A warrant in payment of an undisputed invoice is not issued within 40 days after receipt and approval. What does the agency owe?
Correct Answer
B) Interest at the s. 55.03(1) rate from the end of the 40 days
Section 215.422(3)(b) requires the agency or judicial branch to pay the vendor, in addition to the invoice, interest at the rate established under s. 55.03(1) on the unpaid balance from the expiration of the 40-day period until the warrant is issued. The paragraph applies only to undisputed amounts for which payment has been authorized.
Why This Is the Correct Answer
Section 215.422(3)(b) requires the agency or judicial branch to pay the vendor, in addition to the invoice, interest at the rate established under s. 55.03(1) on the unpaid balance from the expiration of the 40-day period until the warrant is issued. The paragraph applies only to undisputed amounts for which payment has been authorized.
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