§1308.5. Interest.

18 C.F.R. § 1308.5

TVA shall pay a Contractor interest on the amount found to be due on a claim:

(a)

From the date payment is due under the contract or the Contracting Officer receives the claim, whichever is later, until TVA makes payment;

(b)

At the rate payable pursuant to section 12 of the Act on the date from which interest runs pursuant to paragraph (a) of this section.

Notes, amendments, and revision history

Authority: Tennessee Valley Authority Act of 1933, as amended, 16 U.S.C. 831-831dd; Contract Disputes Act of 1978, 92 Stat. 2383-2391.

Source: 44 FR 29648, May 22, 1979, unless otherwise noted. Redesignated at 44 FR 30682, May 29, 1979.