# State Finance and Procurement (GSF)

## Title 15. Procurement Contract Administration and Dispute Resolution

### Subtitle 1. Procurement Contract Administration

#### Section 15-104

(a) Except as provided in Sec. 15-105 of this subtitle, interest shall accrue at the rate of 9% per annum on any amount that:

  (1) is due and payable by law and under the written procurement contract; and

  (2) remains unpaid more than 37 days after a unit receives an invoice.

(b) Interest shall accrue beginning on the 31st day after:

  (1) the day on which payment becomes due under a procurement contract; or

  (2) if later, the day on which the unit receives an invoice.

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Md. Code Ann., State Fin. & Proc. (as displayed at mgaleg.maryland.gov, October 16, 2026)