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.
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.
cite as: 18 CFR 1308.5