Angolan state to pay suppliers within a maximum of 90 days

15 November 2013

State bodies, funds and autonomous services in Angola will have 90 days to pay invoices for public works or the acquisition of goods and services, reports the Angolan economic newspaper Expansão, citing the 2014 State Budget.

The State Budget indicates that the obligation will be extended to non-profit institutions financed by public funds.

Managers and administrators of budget units who commit acts leading to an accumulation of delayed payments will be held administratively and disciplinarily responsible, indicates the draft General State Budget Law for 2014, approved in general terms by Parliament last 8 November.

The same article determines that delayed payments are invoices for public works contracts undertaken per the terms of current legislation, in the possession of the budget units and still not paid 90 days after the due date specified in the contract.

Delayed payments are also considered to be invoices for the acquisition of goods and services undertaken in compliance with current legislation, in the budget units’ possession and still not paid 90 days after the due date specified in the contract, or in absence thereof after the reception date. (macauhub)