# Federal Acquisition Regulation; Prompt Payment Under Cost-Reimbursement Contracts for Services
> **US Department of Defense** · Final rule. · Published 2003-05-22 · Effective 2003-05-23 · 68 FR 28092
## Document
- **Document number:** 03-12303
- **Category:** other
- **Sub-agency:** US Department of Defense
- **Federal Register citation:** 68 FR 28092
- **CFR reference:** 48 CFR 2
- **Publication date:** 2003-05-22
- **Effective date:** 2003-05-23
- **DOD docket:** FAC 2001-14
## Abstract

The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) have agreed on a final rule amending the Federal Acquisition Regulation (FAR) to adopt, as final, the interim rule published at 66 FR 53485, October 22, 2001. This rule requires an agency to pay an interest penalty whenever it makes an interim payment under a cost reimbursement contract for services more than 30 days after the agency receives a proper invoice from the contractor.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2003/05/22/03-12303/federal-acquisition-regulation-prompt-payment-under-cost-reimbursement-contracts-for-services)
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