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31 U.S.C. § 3904 — Limitations on discount payments

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3904 — Limitations on discount payments

The head of an agency offered a discount by a business concern from an amount due under a contract for property or service in exchange for payment within a specified time may pay the discounted amount only if payment is made within the specified time. For the purpose of the preceding sentence, the specified time shall be determined from the date of the invoice. The head of the agency shall pay an interest penalty on an amount remaining unpaid in violation of this section. The penalty accrues as provided under sections 3902 and 3903 of this title, except that the required payment date for the unpaid amount is the last day specified in the contract that the discounted amount may be paid.

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Source location: Title 31, Chapter 39, § 3904; chapter-039-prompt-payment.md

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3902 — Interest penalties

**(a)** Under regulations prescribed under [section 3903 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3903&num=0&edition=prelim), the head of an agency acquiring property or service from a business concern, who does not pay the concern for each complete delivered item of property or service by the required payment date, shall pay an interest penalty to the concern on the amount of the payment due. The interest shall be computed at the rate of interest established by the Secretary of the Treasury, and published in the Federal Register, for interest payments under section 7109(a)(1) and (b) of title 41, which is in effect at the time the agency accrues the obligation to pay a late payment interest penalty. **(b)** 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. **(c)** (1) A business concern shall be entitled to an interest penalty of $1.00 or more which is owed such business concern under this section, and such penalty shall be paid without regard to whether the business concern has requested payment of such penalty. (2) Each payment subject to this chapter for which a late payment interest penalty is required to be paid shall be accompanied by a notice stating the amount of the interest penalty included in such payment and the rate by which, and period for which, such penalty was computed. (3) If a business concern— (A) is owed an interest penalty by an agency; (B) is not paid the interest penalty in a payment made to the business concern by the agency on or after the date on which the interest penalty becomes due; (C) is not paid the interest penalty by the agency within 10 days after the date on which such

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3901 — Definitions and application

**(a)** In this chapter— (1) “agency” has the same meaning given that term in [section 551(1) of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section551/1&num=0&edition=prelim) and includes an entity being operated, and the head of the agency identifies the entity as being operated, only as an instrumentality of the agency to carry out a program of the agency. (2) “business concern” means— (A) a person carrying on a trade or business; and (B) a nonprofit entity operating as a contractor. (3) “proper invoice” is an invoice containing or accompanied by substantiating documentation the Director of the Office of Management and Budget may require by regulation and the head of the appropriate agency may require by regulation or contract. (4) for the purposes of determining a payment due date and the date upon which any late payment interest penalty shall begin to accrue, the head of the agency is deemed to receive an invoice— (A) on the later of— (i) the date on which the place or person designated by the agency to first receive such invoice actually receives a proper invoice; or (ii) on the 7th day after the date on which, in accordance with the terms and conditions of the contract, the property is actually delivered or performance of the services is actually completed, as the case may be, unless— (I) the agency has actually accepted such property or services before such 7th day; or (II) the contract (except in the case of a contract for the procurement of a brand-name commercial product for authorized resale) specifies a longer acceptance period, as determined by the contracting officer to be required to afford the agency a practicable opportunity to inspect and test the property furnished or evaluate the

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3903 — Regulations

**(a)** The Director of the Office of Management and Budget shall prescribe regulations to carry out [section 3902 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3902&num=0&edition=prelim). The regulations shall— (1) provide that the required payment date is— (A) the date payment is due under the contract for the item of property or service provided; or (B) except as provided in paragraphs (10) and (11), 30 days after a proper invoice for the amount due is received if a specific payment date is not established by contract; (2) for the acquisition of meat or a meat food product (as defined in section 2(a)(3) of the Packers and Stockyards Act, 1921 ([7 U.S.C. 182(3)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section182/3&num=0&edition=prelim))), including any edible fresh or frozen poultry meat, any perishable poultry meat food product, fresh eggs, and any perishable egg product, or of fresh or frozen fish (as defined in section 204(3) of the Fish and Seafood Promotion Act of 1986 ([16 U.S.C. 4003(3)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section4003/3&num=0&edition=prelim)), provide a required payment date of not later than 7 days after the meat, meat food product, or fish is delivered; and (3) for the acquisition of a perishable agricultural commodity (as defined in section 1(4) 11 See References in Text note below. of the Perishable Agricultural Commodities Act, 1930 ([7 U.S.C. 499a(4)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section499a/4&num=0&edition=prelim))), provide a required payment date consistent with that Act; (4) for the acquisition of dairy products (as defined in section 111(e) of the Dairy Production Stabilization Act

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3907 — Relationship to other laws

**(a)** A claim for an interest penalty not paid under this chapter may be filed under [section 7103 of title 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title41-section7103&num=0&edition=prelim). **(b)** (1) An interest penalty under this chapter does not continue to accrue— (A) after a claim for a penalty is filed under chapter 71 of title 41; or (B) for more than one year. (2) Paragraph (1) of this subsection does not prevent an interest penalty from accruing under section 7109(a)(1) and (b) of title 41 after a penalty stops accruing under this chapter. A penalty accruing under section 7109(a)(1) and (b) may accrue on an unpaid contract payment and on the unpaid penalty under this chapter. **(c)** Except as provided in [section 3904 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3904&num=0&edition=prelim), this chapter does not require an interest penalty on a payment that is not made because of a dispute between the head of an agency and a business concern over the amount of payment or compliance with the contract. A claim related to the dispute, and interest payable for the period during which the dispute is being resolved, is subject to chapter 71 of title 41.

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3904 — Limitations on discount payments

Page 364 TITLE 31—MONEY AND FINANCE § 3904 Subsec. (a)(4). Pub. L. 100–496, § 4, amended par. (4) generally. Prior to amendment, par. (4) read as follows: ‘‘provide separate required payment dates for a con- tract under which property or service is provided in a series of partial executions or deliveries to the extent the contract provides for separate payments for partial execution or delivery; and’’. Subsec. (a)(5). Pub. L. 100–496, § 5(2), added par. (5). Former par. (5) redesignated (7). Subsec. (a)(6). Pub. L. 100–496, § 6(2), added par. (6). Subsec. (a)(7). Pub. L. 100–496, § 7, added par. (7) and struck out former par. (7), which read as follows: ‘‘re- quire that, within 15 days after an invoice is received, the head of an agency notify the business concern of a defect or impropriety in the invoice that would prevent the running of the time period specified in clause (1)(B) of this section.’’ Pub. L. 100–496, § 5(1), redesignated par. (5) as (7). Subsec. (a)(8), (9). Pub. L. 100–496, § 7, added pars. (8) and (9). Subsecs. (b), (c). Pub. L. 100–496, § 6(3), added subsecs. (b) and (c). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100–496 applicable to pay- ments under contracts awarded, contracts renewed, and contract options exercised during or after the first fis- cal quarter which begins more than 90 days after Oct. 17, 1988, see section 14(a) of Pub. L. 100–496, set out as a note under section 3902 of this title. IMPLEMENTATION THROUGH FEDERAL ACQUISITION REGULATION Pub. L. 100–496, § 11, Oct. 17, 1988, 102 Stat. 2463, pro- vided that: ‘‘(a) The Federal Acquisition Regulation shall be modified to provide appropriate solicitation provisions and contract clauses that implement chapter

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