{"identifier":"/us/usc/t41/s7109","title":41,"num":"\u00a7\u202f7109.","heading":"Interest","text":"\u00a7\u202f7109.\nInterest\n(a)\nPeriod.\u2014\n(1)\nIn general.\u2014\nInterest on an amount found due a contractor on a claim shall be paid to the contractor for the period beginning with the date the contracting officer receives the contractor\u2019s claim, pursuant to\nsection 7103(a) of this title\n(2)\nDefective certification.\u2014\nOn a claim for which the certification under\nsection 7103(b)(1) of this title\n(b)\nRate.\u2014\nInterest shall accrue and be paid at a rate which the Secretary of the Treasury shall specify as applicable for each successive 6-month period. The rate shall be determined by the Secretary of the Treasury taking into consideration current private commercial rates of interest for new loans maturing in approximately 5 years.","url":"https://projectusc.org/usc/t41/s7109.html","content":[{"t":"sec","id":"/us/usc/t41/s7109","children":[{"t":"num","text":"\u00a7\u202f7109."},{"t":"heading","text":"Interest"},{"t":"subsec","id":"/us/usc/t41/s7109/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Period.\u2014"},{"t":"para","id":"/us/usc/t41/s7109/a/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general.\u2014"},{"t":"content","text":"Interest on an amount found due a contractor on a claim shall be paid to the contractor for the period beginning with the date the contracting officer receives the contractor\u2019s claim, pursuant to ","children":[{"t":"ref","text":"section 7103(a) of this title","href":"/us/usc/t41/s7103/a","tail":", until the date of payment of the claim."}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t41/s7109/a/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Defective certification.\u2014"},{"t":"content","text":"On a claim for which the certification under ","children":[{"t":"ref","text":"section 7103(b)(1) of this title","href":"/us/usc/t41/s7103/b/1","tail":" is found to be defective, any interest due under this section shall be paid for the period beginning with the date the contracting officer initially receives the contractor\u2019s claim until the date of payment of the claim."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t41/s7109/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Rate.\u2014"},{"t":"content","text":"Interest shall accrue and be paid at a rate which the Secretary of the Treasury shall specify as applicable for each successive 6-month period. The rate shall be determined by the Secretary of the Treasury taking into consideration current private commercial rates of interest for new loans maturing in approximately 5 years.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}