Definition of obligation delay

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TeachMeFinance.com - explain obligation delay



obligation delay -- Legislation that precludes the obligation of an amount of budget authority provided in an appropriation act or some other law until some time after the first day on which that budget authority would normally be available. For example, language in an appropriation act for fiscal year 2002 that precludes obligation of an amount until March 1 is an obligation delay; without that language, the amount would have been available for obligation on October 1, 2001 (the first day of fiscal year 2002).



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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