Section 37: Interest on Delayed Payments.

(1) Payment for the procurement of goods, works, and services shall be settled promptly and diligently.
(2) Any payment due for more than sixty days from the date of the submission of the invoice, valuation certificate or confirmation or authentication by the Ministry, Extra-Ministerial Office, government agency, parastatal or corporation shall be deemed a delayed payment.
(3) All delayed payments shall attract interest at the rate specified in the contract document.
(4) All contracts shall include terms, specifying the interest for late payment of more than sixty days.