RTI considers timely invoice submissions to be critical for effective contract and project management. Universities are expected to submit invoices monthly and no later than 120 days after costs are incurred (or 90 days after project termination, whichever comes first). To encourage timely invoicing, RTI assesses late-invoicing penalties on invoices containing expenses incurred more than 120 days prior to invoice submission as permitted under the CRIA. Penalties are assessed in the amount of 0.10% (one tenth of one percent) of the amount of the expense for each day beyond the 120th day after the expense was incurred, to the invoice submission date.