22 C.F.R. § 309.4 Interest, penalties, and administrative costs.
Title 22 - Foreign Relations
(a) Except as otherwise provided by statute, contract or excluded in accordance with FCCS, Peace Corps will assess: (1) Interest on unpaid claims in accordance with existing Treasury rules and regulations, unless the agency determines that a higher rate is necessary to protect the interests of the United States. (2) Penalty charges at a rate of 6 percent a year on any portion of a claim that is delinquent for more than 90 days. (3) Administrative charges to cover the costs of processing and handling the debt beyond the payment due date. (b) Late payment charges shall be computed from the date of mailing or hand delivery of the notice of the claim and interest requirements. (c) When a debt is paid in partial or installment payments, amounts received shall be applied first to outstanding penalty and administrative cost charges, second to accrued interest, and then to outstanding principal. (d) Waiver. Peace Corps will consider waiver of interest, penalties and/or administrative costs in accordance with the FCCS, 4 CFR 102.13(g).
Title 22: Foreign Relations
PART 309—CLAIMS COLLECTION
Subpart A—General Provisions
§ 309.4 Interest, penalties, and administrative costs.
