(1) Payments
due to the supplier shall be made in accordance with the deadlines specified in
the procurement contract, failing which, the supplier
shall be compensated by payment of interest in accordance with the provisions
of the procurement contract.
(2) Where
the procurement contract provides for a prompt payment discount, such a discount
shall be applied if the public body makes payment in accordance with the terms
of the prompt payment discount provision.
The
procurement contract may provide for payment of a bonus to the contractor for
early completion.