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The Prompt Payment Act Answer Book by William G. Arnold

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Appendix 4

Solutions to Payment Due Dates Self-Quiz

Invoice #1

Contract data Items orderedPayment periodAcceptance periodOther contract provisions General goods or services(30 days)(7 days)
Invoice data Method of invoice deliveryVendor invoice dateInvoice received (date-stamped)Date defective invoice returnedDate corrected invoice received MailMay 1May 3
Delivery data Actual delivery of goods/servicesPlus acceptance periodConstructive acceptanceActual acceptanceEarlier of constructive or actual April 25(+7)(May 2)April 27(April 27)
Start dateDue date Later of acceptance or invoice receiptPlus payment periodPayment due date (May 3)(+30)(June 2)

Invoice #2

Contract data Items orderedPayment periodAcceptance periodOther contract provisions ...

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