Accountants risk jail for delayed paymentsSenate Labour Committee Chairman Johnston Sakaja addressing the media at Parliament Buildings. Besides, the Bill proposes that money owed to a supplier would accrue interest at current banking rates, making such payment delays expensive for procuring entities. Angry suppliers The Prompt Payment Bill 2020 has been co-sponsored by Nairobi Senator Johnson Sakaja and his nominated counterpart, Farhiya Haji. It further adds that a disputed invoice should be returned to the supplier within 14 days to avoid situations where wily procuring entities hold onto payments on the pretext of a disagreement on figures. It proposes that due payments be made in chronological order, which means that priority shall be given to dates on which payments fall due.

Source: Standard Digital April 06, 2020 21:00 UTC