§ 611. — Interest.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 41USC611]
TITLE 41--PUBLIC CONTRACTS
CHAPTER 9--CONTRACT DISPUTES
Sec. 611. Interest
Interest on amounts found due contractors on claims shall be paid to
the contractor from the date the contracting officer receives the claim
pursuant to section 605(a) of this title from the contractor until
payment thereof. The interest provided for in this section shall be paid
at the rate established by the Secretary of the Treasury pursuant to
Public Law 92-41 (85 Stat. 97) for the Renegotiation Board.
(Pub. L. 95-563, Sec. 12, Nov. 1, 1978, 92 Stat. 2389.)
References in Text
Provisions of Public Law 92-41, referred to in text, which
authorized the Secretary of the Treasury to fix interest rates for the
Renegotiation Board, were contained in section 2(a)(3) of Pub. L. 92-41,
which was classified to section 1215(b)(2) of Title 50, Appendix, War
and National Defense, and was omitted from the Code. See note preceding
section 1211 of Title 50, Appendix.
Interest Due on Claims With Defective Certifications
Pub. L. 102-572, title IX, Sec. 907(a)(3), Oct. 29, 1992, 106 Stat.
4518, provided that: ``If any interest is due under section 12 of the
Contract Disputes Act of 1978 [41 U.S.C. 611] on a claim for which the
certification under section 6(c)(1) [41 U.S.C. 605(c)(1)] is, on or
after the date of the enactment of this Act [Oct. 29, 1992], found to be
defective shall be paid from the later of the date on which the
contracting officer initially received the claim or the date of the
enactment of this Act.''
Section Referred to in Other Sections
This section is referred to in title 31 sections 3902, 3907.