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Treasury Raises Prompt Payment/CDA Interest Rate

The Secretary of the Treasury has published a notice in the Federal Register (73 FR 79977) setting the prompt payment interest rate and the contract disputes interest rate at 5.625 percent per annum, an increase from 5.125 percent. The new rate applies to the period starting January 1, 2009, and ending June 30, 2009. The rate is used to calculate interest due on claims under the Contract Disputes Act and the Prompt Payment Act. For a list of the rates issued by the Treasury since 1971, see 26,630.

(The news featured above is a selection from the news covered in the Government Contracts Report Letter, which is published weekly and distributed to subscribers of the Government Contracts Reporter. )


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