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Division Director

Christina Smith

Assistant Directors

Rick Sweet

Rachael Lieblick


Accounting and Auditing
200 East Gaines Street
Tallahassee, FL 32399-0318

(850) 413-5510
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December 13, 1994

COMPTROLLER'S MEMORANDUM NO. 10 (1994-95)

SUBJECT: INTEREST RATE LANGUAGE FOR PURCHASE ORDERS AND CONTRACTS


Suggested language for inclusion in purchase orders and contracts after December 31, 1994, to provide for compliance with Section 215.422(5), Florida Statutes, was included in Comptroller's Memorandum No. 9 (1994-95). To alleviate problems that the suggested language may pose to agencies that preprint the language on purchase orders and contract forms, the following additional suggested language has been developed:

Section 215.422, F.S. provides that agencies have 5 working days to inspect and approve goods and services, unless bid specifications or the P.O. specifies otherwise. With the exception of payments to health care providers for hospital, medical, or other health care services, if payment is not available within 40 days, measured from the latter of the date the invoice is received or the goods or services are received, inspected and approved, approved, a separate interest penalty set by the Comptroller pursuant to Section 55.03, F.S., will be due and payable in addition to the invoice amount. To obtain the applicable interest rate, please contact the Agency's Fiscal Section or Purchasing Office. Payments to health care providers for hospitals, medical or other health care services, shall be made not more than 35 days from the date of eligibility for payment is determined, and the daily interest rate is 0.3333%. Invoices returned to a vendor due to preparation errors will result in a payment delay. Invoice payment requirements do not start until a properly completed invoice is provided to the agency. A Vendor Ombudsman, whose duties include acting as an advocate for vendors who may be experiencing problems in obtaining timely payment(s) from a State agency, may be contacted at (904) 488-2924 or by calling the State Comptroller's Hotline, 1-800-848-3792.

If additional information is needed, please contact the Bureau of Accounting at 410-9951, Suncom 210-9951.