Does the contractor have a guarantee concerning terms of payment?

Yes. A decree contained in the public contracts code now sets a global timetable for each contract, a timetable which includes a general timetable for settlement, payment authorisation and payment and apprises the contractor of the payment terms (and no longer just the payment authorisation deadline) to which the contracting administration commits itself. Any missed deadline will give rise to interest on the arrears. The overall payment terms and the rate of interest on arrears are usually indicated in the contract.

Payment authorisation is the order to pay given by the official entitled to authorise payment who is the deputy paymaster. Payment is the action by which the paymaster frees the administration from its debt.