In most cases, the state's rate of on-time payment is similar to this rate at a county's level.
On-time payment refers to the specific date a company should pay suppliers. This date is usually established through a formal contract and it is defined by specific business conventions.
Moreover, the number of times a payment occurs on time and the number of times a payment occurs after the established date determine the rate of on-time payments.
For example:
10 (total of payments)
5 (payments on time)
= 50%
Despite this, it is common the on-time payments rate is similar across states and across counties not only due to shared cultural behaviors such as considering paying on time is highly important but also because states and therefore counties can have laws that regulate this rate.
