[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: 5CFR1315.20]

[Page 150]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
              CHAPTER III--OFFICE OF MANAGEMENT AND BUDGET
 
PART 1315_PROMPT PAYMENT--Table of Contents
 
Sec.  1315.20  Application of Section 1010 of the National Defense 

Authorization Act for Fiscal Year 2001.

    Section 1010 of the National Defense Authorization Act for Fiscal 
Year 2001 (Public Law 106-398, 114 Stat. 1654), as amended by section 
1007 of the National Defense Authorization Act for Fiscal Year 2002 
(Public Law 107-107, 115 Stat. 1012), requires an agency to pay an 
interest penalty whenever the agency makes an interim payment under a 
cost-reimbursement contract for services more than 30 days after the 
date the agency receives a proper invoice for payment from the 
contractor. This part implements Section 1010, as amended, and is 
applicable in the following manner:
    (a) This part shall apply to all interim payment requests that are 
due on or after December 15, 2000 under cost-reimbursement service 
contracts awarded before, on, or after December 15, 2000.
    (b) No interest penalty shall accrue under this part for any delay 
in payment that occurred prior to December 15, 2000.
    (c) Agencies are authorized to issue modifications to contracts, as 
necessary, to conform them to the provisions in this part implementing 
Section 1010, as amended.

[67 FR 79516, Dec. 30, 2002]