Invoice submission deadlines

The Pactix invoicing provisions include an optional clause setting a deadline for invoices to be submitted. Public companies will often "encourage" their vendors to submit invoices promptly, so that the companies can book the expenses in the proper financial period. Late invoices for material amounts can cause administrative problems, potentially serious ones, for paying parties, and thus can cause career problems for individuals.

In 2006, Calgon Carbon Corporation fired its general counsel because he had not processed some $1.4 million (!) in invoices for legal services, resulting in the company's having to restate its financials for three fiscal quarters.