HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept
{
"id": 1229243,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1229243/?format=api",
"text_counter": 348,
"type": "speech",
"speaker_name": "Sen. Mariam Omar",
"speaker_title": "",
"speaker": null,
"content": "(e) Financial management shall be responsible, and fiscal reporting shall be clear.” Mr. Temporary Speaker, Sir, prudent management of public funds includes meeting of financial obligations by procuring entities, both in national and county Governments. The Bill, however, recognizes that apart from giving effect to the principles of public finance and prompt settlement of bills; it promotes trade and industry and by extension, support robust growth of the economy. Mr. Temporary Speaker, Sir, a vibrant economy has numerous tangible benefits such as increase in the rate of employment, growth in revenue collected from thriving business and investor confidence in the country. Therefore, at micro-level, the Bill sets to solve the problem of late payment of the supply of goods and services and at macro-level, to act as a catalyst for the growth of business and economic development. The Bill, therefore, proposes to require procuring entities in the national Government and county governments to pay a supplier by the prescribed payment dates. Where procuring a entity fails to pay a supplier by the prescribed payment date, the Bill provides that the procuring entity shall pay interest to the supplier in accordance with the section on the amount due under the contract for the supply of goods, works and services. In this respect, the Bill provides that the maximum interest rates chargeable shall be based on the rates set and published by the Central Bank of Kenya (CBK). Mr. Temporary Speaker, further, the Bill proposes to place an obligation on procuring entities to ensure that priority is given to the payment of any outstanding debts for the supply of goods and services to the procuring entity. In this respect, the Bill provides that in determining which dates should be given priority, a procuring entity shall have regard to the date upon which payment fell due and should pay debts in a chronological order. Mr. Temporary Speaker, Sir, cognizant of the fact that delayed payment for public contracts is usually compounded by disputes on the term of the contract, the Bill proposes that where a procuring entity disputes an invoice, a procuring entity shall, within 14 days, return the invoice to the supplier and identify in writing any defects in the invoice and require the supplier to correct the defects. The Bill further provides that where a procuring entity returns an invoice, the procuring entity shall pay the supplier at least 50 per cent of the amount due or as the procuring entity and the supplier may agree. In this respect, a supplier who receives an invoice from a procuring entity shall within 14 days, deliver a corrected invoice to a procuring entity. The interest shall accrue upon expiration of 14 days after the receipt by the procuring entity of the corrected invoice or after the prescribed payment dates, whichever is later. Mr. Temporary Speaker, Sir, as a means of ensuring implementation of the provisions of the law, the Bill provides that where the supplier has delivered an invoice to the procuring entity and an accounting officer or responsible officer of the procuring entity negligently, maliciously or without a reasonable cause fail to return the invoice as provided for rectification or pay the amount due, commits an offence and is liable on"
}