Prompt Pay mandates payment within how many days after receipt of invoice?

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Study for the Certified Defense Financial Manager (CDFM) Exam 1. Engage with flashcards and multiple choice questions, with hints and explanations for each query. Prepare confidently for your exam!

Multiple Choice

Prompt Pay mandates payment within how many days after receipt of invoice?

Explanation:
The main idea is that the government must pay most invoices within thirty days after it receives a proper invoice. The countdown starts when the government has a proper invoice and, if applicable, after acceptance of the delivered goods or services—whichever date is later. This standard keeps payments timely and supports vendor cash flow. Therefore, the correct timeframe is thirty days; the other listed durations do not reflect the typical prompt-pay requirement.

The main idea is that the government must pay most invoices within thirty days after it receives a proper invoice. The countdown starts when the government has a proper invoice and, if applicable, after acceptance of the delivered goods or services—whichever date is later. This standard keeps payments timely and supports vendor cash flow. Therefore, the correct timeframe is thirty days; the other listed durations do not reflect the typical prompt-pay requirement.

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