Quantcast Invoice Payments -Cont.

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(i) A proper invoice was-received by the designated billing
office.
(ii) A  receiving report or other Government documentation
authorizing payment was processed and there was no disagreement over
quantity, quality, Contractor compliance with any contract term or
condition, or requested progress payment amount.
(iii)  In the case of a final invoice for any balance of
funds due the Contractor for work or services performed, the amount was not
subject to further contract settlement actions between the Government and
the Contractor.
(5) The interest penalty shall be at the rate established by the
Secretary of the Treasury under section 12 of the Contract Disputes Act of
1978 (41 U.S.C. 611) that is in effect on the day after the due date,
except where the interest penalty is prescribed by other governmental
authority.  This rate is referred to as the "Renegotiation Board Interest
Rate," and it is published in the Federal Register semiannually on or about
January 1 and July 1.  The interest penalty shall accrue daily on the
invoice payment amount approved by the Government and be compounded in
30-day increments inclusive from the first day after the due date through
the payment date.  That is, interest accrued at the end of any 30-day
period will be added to the approved invoice payment amount and be subject
to interest penalties if not paid in the succeeding 30-day period.  If the
designated billing office failed to notify the Contractor of a defective
invoice within the periods prescribed in subparagraph (a) (3) of this
clause, then the due date on the corrected invoice will be adjusted by
subtracting the number of days taken beyond the prescribed notification of
defects period.  Any interest penalty owed the Contractor will be based on
this adjusted due date.  Adjustments will be made by the designated payment
office for errors in calculating interest penalties, if requested by the
Contractor.
(i) For the sole purpose of computing an interest penalty
that might be due the Contractor, Government acceptance or approval shall
be deemed to have occurred constructively as shown in subdivisions
(a) (5) (i) (A) and (B) of this clause.  In the event that actual acceptance
or approval occurs within the constructive acceptance or approval period,
the determination of an interest penalty shall be based on the actual date
of acceptance or approval.  Constructive acceptance or constructive
approval requirements do not apply if there is a disagreement over
quantity, quality, Contractor compliance with a contract provision, or
requested progress payment amounts.  These requirements also do not compel
Government officials to accept work or services, approve Contractor
estimates, perform contract administration functions, or make payment prior
to fulfilling their responsibilities.
(A)  For work or services completed by the Contractor,
Government acceptance shall be deemed to have occurred constructively on
the 7th day after the Contractor has completed the work or services in
accordance with the terms and conditions of the contract.
For progress payments, Government approval shall be
(B)
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