Prompt Payment Interest Rate; Contract Disputes Act, 37881 [2010-16050]

Download as PDF Federal Register / Vol. 75, No. 125 / Wednesday, June 30, 2010 / Notices Dated: June 24, 2010. Adam J. Szubin, Director, Office of Foreign Assets Control. [FR Doc. 2010–15826 Filed 6–29–10; 8:45 am] BILLING CODE 4811–45–P DEPARTMENT OF THE TREASURY Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury. ACTION: Notice. For the period beginning July 1, 2010, and ending on December 31, 2010, the prompt payment interest rate is 31⁄8 per centum per annum. ADDRESSES: Comments or inquiries may be mailed to Dorothy Dicks, Reporting Team Leader, Federal Borrowings Branch, Division of Accounting Operations, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106–1328. A copy of this Notice is available at https://www.treasurydirect.gov. DATES: Effective July 1, 2010, to December 31, 2010. FOR FURTHER INFORMATION CONTACT: Crystal Hanna, Manager, Federal Borrowings Branch, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106– 1328, (304) 480–5103; Dorothy Dicks, Reporting Team Leader, Federal Borrowings Branch, Division of Accounting Operations, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia, 26106–1328, (304) 480–5115; Paul Wolfteich, Chief Counsel, Office of the Chief Counsel, Bureau of the Public Debt, (202) 504–3705; or Brenda L. Hoffman, Attorney-Advisor, Office of the Chief Counsel, Bureau of the Public Debt, (202) 504–3706. SUPPLEMENTARY INFORMATION: An agency that has acquired property or service from a business concern and has failed to pay for the complete delivery of property or service by the required payment date shall pay the business concern an interest penalty. 31 U.S.C. 3902(a). The Contract Disputes Act of 1978, Sec. 12, Public Law 95–563, 92 Stat. 2389, and the Prompt Payment Act of 1982, 31 U.S.C. 3902(a), provide for the calculation of interest due on claims at the rate established by the Secretary of the Treasury. The Secretary of the Treasury has the authority to specify the rate by which mstockstill on DSKH9S0YB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:53 Jun 29, 2010 Jkt 220001 the interest shall be computed for interest payments under section 12 of the Contract Disputes Act of 1978 and under the Prompt Payment Act. Under the Prompt Payment Act, if an interest penalty is owed to a business concern, the penalty shall be paid regardless of whether the business concern requested payment of interest. 31 U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated with the interest rate, which is in effect at the time the agency accrues the obligation to pay a late payment interest penalty. 31 U.S.C. 3902(a). ‘‘The interest penalty shall be paid for the period beginning on the day after the required payment date and ending on the date on which payment is made.’’ 31 U.S.C. 3902(b). Therefore, notice is given that the Secretary of the Treasury has determined that the rate of interest applicable for the period beginning July 1, 2010, and ending on December 31, 2010, is 31⁄8 per centum per annum. David Lebryk, Acting Fiscal Assistant Secretary. [FR Doc. 2010–16050 Filed 6–28–10; 4:15 pm] BILLING CODE 4810–39–P DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds—Change in Business Address and Redomestication; Safeco National Insurance Company AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice. SUMMARY: This is Supplement No. 14 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536. FOR FURTHER INFORMATION CONTACT: Surety Bond Branch at (202) 874–6850. SUPPLEMENTARY INFORMATION: Notice is hereby given by the Treasury that Safeco National Insurance Company (NAIC# 24759) formally changed its ‘‘Business Address’’ to ‘‘62 Maple Avenue, Keene, NH 03431’’ effective immediately. In addition, Safeco National Insurance Company (NAIC# 24759) has redomesticated from the state of Missouri to the state of New Hampshire effective October 1, 2009. Federal bondapproving officers should annotate their reference copies of the Treasury Circular 570 (‘‘Circular’’), 2009 Revision, to reflect these changes. PO 00000 Frm 00133 Fmt 4703 Sfmt 9990 37881 The Circular may be viewed and downloaded through the Internet at https://www.fms.treas.gov/c570. Questions concerning this Notice may be directed to the U.S. Department of the Treasury, Financial Management Service, Financial Accounting and Services Division, Surety Bond Branch, 3700 East-West Highway, Room 6F01, Hyattsville, MD 20782. Dated: June 17, 2010. William J. Erie, Acting Director, Financial Accounting and Services Division. [FR Doc. 2010–15613 Filed 6–29–10; 8:45 am] BILLING CODE M DEPARTMENT OF THE TREASURY Fiscal Service Surety Companies Acceptable on Federal Bonds—Change in State of Incorporation United States Fidelity and Guaranty Company AGENCY: Financial Management Service, Fiscal Service, Department of the Treasury. ACTION: Notice. SUMMARY: This is Supplement No. 18 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536. FOR FURTHER INFORMATION CONTACT: Surety Bond Branch at (202) 874–6850. SUPPLEMENTARY INFORMATION: Notice is hereby given that United States Fidelity and Guaranty Company (NAIC# 25887) has redomesticated from the state of Maryland to the state of Connecticut effective December 15, 2009. Federal bond approving officials should annotate their reference copies of the Treasury Department Circular 570 (‘‘Circular’’), 2009 Revision, to reflect this change. The Circular may be viewed and downloaded through the Internet at https://www.fms.treas.gov/c570. Questions concerning this notice may be directed to the U.S. Department of the Treasury, Financial Management Service, Financial Accounting and Services Division, Surety Bond Branch, 3700 East-West Highway, Room 6F01, Hyattsville, MD 20782. Dated: June 17, 2010. William J. Erie, Acting Director, Financial Accounting and Services Division. [FR Doc. 2010–15614 Filed 6–29–10; 8:45 am] BILLING CODE 4810–35–M E:\FR\FM\30JNN1.SGM 30JNN1

Agencies

[Federal Register Volume 75, Number 125 (Wednesday, June 30, 2010)]
[Notices]
[Page 37881]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16050]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: For the period beginning July 1, 2010, and ending on December 
31, 2010, the prompt payment interest rate is 3\1/8\ per centum per 
annum.

ADDRESSES: Comments or inquiries may be mailed to Dorothy Dicks, 
Reporting Team Leader, Federal Borrowings Branch, Division of 
Accounting Operations, Office of Public Debt Accounting, Bureau of the 
Public Debt, Parkersburg, West Virginia 26106-1328. A copy of this 
Notice is available at https://www.treasurydirect.gov.

DATES: Effective July 1, 2010, to December 31, 2010.

FOR FURTHER INFORMATION CONTACT: Crystal Hanna, Manager, Federal 
Borrowings Branch, Office of Public Debt Accounting, Bureau of the 
Public Debt, Parkersburg, West Virginia 26106-1328, (304) 480-5103; 
Dorothy Dicks, Reporting Team Leader, Federal Borrowings Branch, 
Division of Accounting Operations, Office of Public Debt Accounting, 
Bureau of the Public Debt, Parkersburg, West Virginia, 26106-1328, 
(304) 480-5115; Paul Wolfteich, Chief Counsel, Office of the Chief 
Counsel, Bureau of the Public Debt, (202) 504-3705; or Brenda L. 
Hoffman, Attorney-Advisor, Office of the Chief Counsel, Bureau of the 
Public Debt, (202) 504-3706.

SUPPLEMENTARY INFORMATION: An agency that has acquired property or 
service from a business concern and has failed to pay for the complete 
delivery of property or service by the required payment date shall pay 
the business concern an interest penalty. 31 U.S.C. 3902(a). The 
Contract Disputes Act of 1978, Sec. 12, Public Law 95-563, 92 Stat. 
2389, and the Prompt Payment Act of 1982, 31 U.S.C. 3902(a), provide 
for the calculation of interest due on claims at the rate established 
by the Secretary of the Treasury.
    The Secretary of the Treasury has the authority to specify the rate 
by which the interest shall be computed for interest payments under 
section 12 of the Contract Disputes Act of 1978 and under the Prompt 
Payment Act. Under the Prompt Payment Act, if an interest penalty is 
owed to a business concern, the penalty shall be paid regardless of 
whether the business concern requested payment of interest. 31 U.S.C. 
3902(c)(1). Agencies must pay the interest penalty calculated with the 
interest rate, which is in effect at the time the agency accrues the 
obligation to pay a late payment interest penalty. 31 U.S.C. 3902(a). 
``The interest penalty shall be paid for the period beginning on the 
day after the required payment date and ending on the date on which 
payment is made.'' 31 U.S.C. 3902(b).
    Therefore, notice is given that the Secretary of the Treasury has 
determined that the rate of interest applicable for the period 
beginning July 1, 2010, and ending on December 31, 2010, is 3\1/8\ per 
centum per annum.

David Lebryk,
Acting Fiscal Assistant Secretary.
[FR Doc. 2010-16050 Filed 6-28-10; 4:15 pm]
BILLING CODE 4810-39-P

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