[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1315.5]

[Page 137]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
              CHAPTER III--OFFICE OF MANAGEMENT AND BUDGET
 
PART 1315--PROMPT PAYMENT--Table of Contents
 
Sec. 1315.5  Accelerated payment methods.

    (a) A single invoice under $2,500. Payments may be made as soon as 
the contract, proper invoice , receipt and acceptance documents are 
matched except where statutory authority prescribes otherwise and except 
where otherwise contractually stipulated (e.g., governmentwide 
commercial purchase card.) Vendors shall be entitled to interest 
penalties if invoice payments are made after the payment due date.
    (b) Small business (as defined in FAR 19.001 (48 CFR 19.001)). 
Agencies may pay a small business as quickly as possible, when all 
proper documentation, including acceptance, is received in the payment 
office and before the payment due date. Such payments are not subject to 
payment restrictions stated elsewhere in this part. Vendors shall be 
entitled to interest penalties if invoice payments are made after the 
payment due date.
    (c) Emergency payments. Payments related to emergencies and 
disasters (as defined in the Robert T. Stafford Disaster Relief Act and 
Emergency Assistance, Pub. L. 93-288, as amended (42 U.S.C. 5 121 et 
seq.); payments related to the release or threatened release of 
hazardous substances (as defined in the Comprehensive Environmental 
Response Compensation and Liability Act of 1980, Pub. L. 96-510, 42 
U.S.C. 9606); and payments made under a military contingency (as defined 
in 10 U.S.C. 101(a)(13)) may be made as soon as the contract, proper 
invoice, receipt and acceptance documents or any other agreement are 
matched. Vendors shall be entitled to interest penalties if invoice 
payments are made after the payment due date.
    (d) Interim payments under cost-reimbursement contracts for 
services. For interim payments under cost-reimbursement service 
contracts, agency heads may make payments earlier than seven days prior 
to the payment due date in accordance with agency regulations or 
policies.

[64 FR 52586, Sept. 29, 1999, as amended at 65 FR 78405, Dec. 15, 2000]