The University of Oklahoma Health Sciences Center is restricted on payment of late fees on payment accounts, except within rules stated in Oklahoma House Joint resolution 1010.
House Joint Resolution 1010 reads as shown below.
Interest: Proper invoices not paid within 45 days will accrue interest beginning on the 30th day after receipt. The annual interest rate will be set by the State Treasurer based on the average rate for 30-day deposits of state funds during the last calendar quarter of the last preceding fiscal year.
The current rate to be applied for the fiscal year 2014 is 0.12% per annum. If vendors request calculations of interest on past due invoices please contact Accounts Payable 405-271-2410 for questions and processing.