Surety Companies Acceptable on Federal Bonds: Axis Insurance Company
This is Supplement No. 1 to the Treasury Department Circular 570, 2008 Revision, published July 1, 2008, at 73 FR 37644.
Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation
Pursuant to Section 11 of the Debt Collection Act of 1982, as amended, (31 U.S.C. 3717), the Secretary of the Treasury is responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (1 TFM 6-8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the Prompt Payment rule on ``Rebates'' requires that this rate be used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate is 3.00 percent for the remainder of the calendar year.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning July 1, 2008, and ending on December 31, 2008, the prompt payment interest rate is 5\1/8\ per centum per annum.