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                            32.902 Definitions.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart32.032.132.232.332.432.532.632.732.832.932.1032.11
Section32.90032.90132.90232.90332.90432.90532.90632.90732.90832.909
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32.902 Definitions.32.902 Definitions.       As used in this subpart-          *Discount for prompt payment* means an invoice payment reduction offered by the contractor for payment prior to the due date.          *Mixed invoice* means an invoice that contains items with different payment due dates.          *Payment date* means the date on which a check for payment is dated or, for an electronic funds transfer (EFT), the settlement date.          *Settlement date*, as it applies to electronic funds transfer, means the date on which an electronic funds transfer payment is credited to the contractor’s financial institution.    **Parent topic:**  Subpart 32.9 - Prompt Payment
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