Government Contracts Prompt Payment, CDA Interest Rate Fall to 11/8 Percent
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Monday, August 3, 2020

Prompt Payment, CDA Interest Rate Fall to 11/8 Percent

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.

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