[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1315.1]

[Page 136-137]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
              CHAPTER III--OFFICE OF MANAGEMENT AND BUDGET
 
PART 1315_PROMPT PAYMENT--Table of Contents
 
Sec.  1315.1  Application.

    (a) Procurement contracts. This part applies to contracts for the 
procurement of goods or services awarded by:
    (1) All Executive branch agencies except:
    (i) The Tennessee Valley Authority, which is subject to the Prompt 
Payment Act (31 U.S.C. chapter 39), but is not covered by this part; and
    (ii) Agencies specifically exempted under 5 U.S.C. 551(1); and
    (2) The United States Postal Service. The Postmaster General is 
responsible for issuing implementing procurement regulations, 
solicitation provisions, and contract clauses for the United States 
Postal Service.
    (b) Vendor payments. All Executive branch vendor payments and 
payments to those defined as contractors or vendors (see Sec.  
1315.2(hh)) are subject to the Prompt Payment Act with the following 
exceptions:
    (1) Contract Financing Payments, as defined in Sec.  1315.2(h); and
    (2) Payments related to emergencies (as defined in the Disaster 
Relief Act of 1974, Public Law 93-288, as amended (42 U.S.C. 5121 et 
seq.)); military contingency operations (as defined in 10 U.S.C. 101 
(a)(13)); and the release or threatened release of hazardous substances 
(as defined in 4 U.S.C. 9606, Section 106).
    (c) Utility payments. All utility payments, including payments for 
telephone service, are subject to the Act except those under paragraph 
(b)(2) of

[[Page 137]]

this section. Where state, local or foreign authorities impose 
generally-applicable late payment rates for utility payments, those 
rates shall take precedence. In the absence of such rates, this part 
will apply.
    (d) Commodity Credit Corporation payments. Payments made pursuant to 
Section 4(h) of the Act of June 29, 1948 (15 U.S.C. 714b(h)) (``CCC 
Charter Act'') relating to the procurement of property and services, and 
payments to which producers on a farm are entitled under the terms of an 
agreement entered into under the Agricultural Act of 1949 (7 U.S.C. 1421 
et seq.) are subject to this part.