D.C. Mun. Regs. r. 27-3236

Current through Register Vol. 71, No. 24, June 14, 2024

Rule 27-3236 - CONTRACT DEBT INTEREST CHARGES AND CREDITS

3236.1

The contracting officer shall apply interest charges to any contract debt unpaid after thirty (30) days from the issuance of a demand, unless either of the following applies:

(a) The contract specifies another due date or procedure for charging or collecting interest; or

(b) The contract is excluded under § 3236.5.

3236.2

Interest on contract debt shall be made an element of each deferred payment agreement. The interest charge shall be at the rate set forth in the D.C. Code § 28 -3302(c).

3236.3

The interest charge shall be computed for the actual number of calendar days involved beginning on the due date and ending on whichever of the following dates applies:

(a) The date on which the designated office received payment from the contractor;

(b) The date of issuance of a District check to the contractor from which an amount otherwise payable has been withheld as a credit against the contract debt; or

(c) The date on which an amount withheld and applied to the contract debt would otherwise have become payable to the contractor.

3236.4

An equitable interest credit shall be applied under the following circumstances:

(a) When the amount of debt initially determined is subsequently reduced;

(b) When the collection procedures used result in an over-collection of the debt due; or

(c) When the contracting officer or other official designated to collect the debt determines that the District has unduly delayed payments to the contractor on the same contract at some time during the period to which the interest charge applied, unless an interest penalty was paid for the late payment.

3236.5

The following categories of contracts may be excluded from interest charges:

(a) Small purchases;

(b) Contracts with a state or local government or instrumentality; and

(c) Contracts without any provision for profit or fee with a nonprofit organization.

D.C. Mun. Regs. r. 27-3236

Final Rulemaking published at 35 DCR 1642 (February 26, 1988)