Agencies have to pay their prime contractors promptly and, in turn, try to get the primes to make faster payments to their small-business subcontractors, and the Office of Management and Budget wants to see their progress.
OMB is requiring two reports—one in six months and the second report a year from now—to assess agencies’ work to get money into the hands of subcontractors faster, according to a memo released July 11.
The reports have three aspects.
Keep reading this article at: http://fcw.com/articles/2012/07/11/prompt-pay-subcontractor-agency-reports.aspx.
