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31 U.S. Code § 3901. Definitions and application
(a) In this chapter—
(1)
“agency” has the same meaning given that term in section 551(1) of title 5 and includes an entity being operated, and the head of the agency identifies the entity as being operated, only as an instrumentality of the agency to carry out a program of the agency.
(2) “business concern” means—
(A)
a person carrying on a trade or business; and
(B)
a nonprofit entity operating as a contractor.
(3)
“proper invoice” is an invoice containing or accompanied by substantiating documentation the Director of the Office of Management and Budget may require by regulation and the head of the appropriate agency may require by regulation or contract.
(4) for the purposes of determining a payment due date and the date upon which any late payment interest penalty shall begin to accrue, the head of the agency is deemed to receive an invoice—
(A) on the later of—
(i)
the date on which the place or person designated by the agency to first receive such invoice actually receives a proper invoice; or
(ii) on the 7th day after the date on which, in accordance with the terms and conditions of the contract, the property is actually delivered or performance of the services is actually completed, as the case may be, unless—
(I)
the agency has actually accepted such property or services before such 7th day; or
(II)
the contract (except in the case of a contract for the procurement of a brand-name commercial product for authorized resale) specifies a longer acceptance period, as determined by the contracting officer to be required to afford the agency a practicable opportunity to inspect and test the property furnished or evaluate the services performed; or
(B)
on the date of the invoice, if the agency has failed to annotate the invoice with the date of receipt at the time of actual receipt by the place or person designated by the agency to first receive such invoice.