<?xml version='1.0' encoding='utf-8'?>
<section article="gsf" article_name="State Finance and Procurement" number="15-104" title_number="15" title_name="Procurement Contract Administration and Dispute Resolution" subtitle_number="1" subtitle_name="Procurement Contract Administration">
  <level label="a">
    <text>Except as provided in § 15–105 of this subtitle, interest shall accrue at the rate of 9% per annum on any amount that:</text>
    <level label="1">
      <text>is due and payable by law and under the written procurement contract; and</text>
    </level>
    <level label="2">
      <text>remains unpaid more than 37 days after a unit receives an invoice.</text>
    </level>
  </level>
  <level label="b">
    <text>Interest shall accrue beginning on the 31st day after:</text>
    <level label="1">
      <text>the day on which payment becomes due under a procurement contract; or</text>
    </level>
    <level label="2">
      <text>if later, the day on which the unit receives an invoice.</text>
    </level>
  </level>
</section>
