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Prompt Payment Act A federal law that requires federal agencies to pay interest to companies on bills not paid within 30 days of invoice or completion of work. Cash Management Improvement Act passed to improve the transfer of federal funds between the federal government and the states, territories, and the District of Columbia 31 CFR Part 2018 Management of Federal Agency Disbursements requires federal agencies to disburse payments via electronic funds transfer, with few excepti...

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