Debt Management
USAID is required by the Prompt Payment Act to pay its bills on time or pay an interest penalty to vendors. Timely payment reduces interest charges and reflects a high degree of accountability and integrity. This chart shows that USAID’s percentage of interest paid is less than 1 percent for the third consecutive year. In addition, we pay the vast majority of our bills by Electronic Funds Transfer (EFT).
Timeliness of Payments
| Timeliness of Payments |
FY 2006 |
FY 2005 |
FY 2004 |
FY 2003 |
| Interest Penalty Paid |
$50,266.00 |
$35,250.07 |
$3,045.00 |
$17,825.00 |
| Percentage of Payments Paid Late |
0.64% |
0.001% |
0.41% |
1.17% |
| Number of EFT Payments |
55,900 |
29,800 |
21,300 |
20,600 |
| Percentage of EFT Payments |
96.87% |
96.69% |
97.56% |
96.76% |
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