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Presenter Robin Herring October 2006 PowerPoint Presentation
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Presenter Robin Herring October 2006

Presenter Robin Herring October 2006

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Presenter Robin Herring October 2006

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    1. Presenter Robin Herring October 2006

    4. Invoice Payment Process The Office of Financial Management (OFM) is the designated billing office (DBO) for the NIH unless a contract states otherwise. All payments, contracts included, that are not paid through the Payment Management System (PMS) are processed by this office. To ensure prompt payment, the OFM requires fourteen (14) calendar days to process the invoice for payment. Therefore, the time between the date of the receipt of invoice from the contractor by the contracting officer and the date the approved invoice is received in the DBO shall not exceed sixteen (16) calendar days (see NIH Policy Manual, Chapter 6332-9).

    6. Invoice Payment Process

    7. Invoice Payment Process

    8. Invoice Payment Process

    10. An invoice requesting payment in foreign currency is scheduled on an SF1166, Voucher and Schedule of Payment: and sent to the Kansas City Financial Center (KFC) for processing. The KFC will process the payment once it verifies that the certifying officer on the SF1166 matches a signature provided on file. An individual SF1166 may contain either wire payments or check payments. If a payee requests a wire payment instead of a check, the SF1166 should be annotated to indicate a WIRE PAYMENT is requested, along with supplying the required data to accomplish the wire payment. Foreign Currency Payments

    11. Wire Payment

    12. Check Payment

    13. Foreign Currency Payments

    15. Interest Payments

    16. Interest Payments

    17. Interest payments are not due when payment is delayed because of a disagreement between a Federal agency and a contractor over the amount of the payment or other issues concerning compliance with the terms of a contract. In addition to late payment interest, a contractor shall be entitled to additional interest penalties if they: (1) receive a payment after the payment due date which doesnot include the interest penalty also due. (2) are not paid the interest within 10 daysafter the date on which the initial payment is made. (3) make a written request, no later than 40 days after the payment date, that the agency pay such additional penalties. The additional penalty shall be equal to 100 percent of the original late payment interest but must not exceed $5,000 nor be less than $25. Interest Payments

    19. The Commercial Accounts Office is in the process of developing yet another means for Contractors to access bill payment information. In the near future, Contractors whose invoices are paid through the Research Contracts Module will be able to access their payment information using the Commercial Accounts Bill Payment Website. This website is currently being utilized by vendors on Purchase Orders, Records of Calls, Training Nominations, and other Simplified Acquisition Procurements.

    21. Suggested references and websites: OMB Circular A-125, Prompt Pay FAR 32.9, Contract Financing, Prompt Pay HHSAR 332-9, Prompt Pay