Prompt Payment Information 

Late Payment To Vendors - New Interest Rate FY 2010

The Fiscal Year 2010 interest rate applicable to late payments to vendors has been set at 0.36 percent per annum, computed on a 360 day calendar, or $0.0010 per $100 per day, which will be in effect July 1, 2009, through June 30, 2010. This interest rate is provided by the State Treasurer based on the average interest rate for 30 day time deposits of State funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 41.4a & 4b and 74, § 840.14. and OSF Prompt Payment Rules/Regulations).

Late Payment To Vendors - New Interest Rate FY 2009

The Fiscal Year 2009 interest rate applicable to late payments to vendors has been set at 4.30 percent per annum, computed on a 360 day calendar, or $0.0119 per $100 per day, which will be in effect July 1, 2008, through June 30, 2009. This interest rate is provided by the State Treasurer based on the average interest rate for 30 day time deposits of State funds during the last calendar quarter of the last preceding fiscal year. (Titles 62, § 41.4a & 4b and 74, § 840.14. and OSF Prompt Payment Rules/Regulations).

• Prompt Payment Rules (.pdf, 14 pp, 76 KB)