By Government Contracts Editorial Staff
The Secretary of the Treasury has set the Prompt Payment Act and Contract Disputes Act interest rate at 11/8 percent per year, down from 21/8 percent. The new rate applies July 1, 2020, through December 31, 2020. The rate is used to calculate interest due on claims under the PPA and CDA. For a list of the rates issued by the Treasury Department since 1971, see ¶26,630. For the text of the Federal Register notice, see 85 FR 41671.
Interested in submitting an article?
Submit your information to us today!Learn More