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Time limit on unreceived invoice
August 30, 2023
Q. A vendor provided several services in 2021 to us, but never invoiced us. We have tried to contact the vendor to request an invoice, but vendor has been unresponsive. Is there time limitation on us having to pay the vendor?
A.
(Answered by Debra Richardson, a third-party Vendor Master File Advisor -- https://www.debrarrichardson.com.)
This has to do with the escheatment process (unclaimed property) to the states, and the rules are all different, depending on the state. There is not a time…
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