{"data":{"id":"us-md/md.-code-state-finance-and-procurement-15-104","jurisdiction":"us-md","citation":"Md. Code, State Finance and Procurement § 15–104","heading":"","body":"(a) Except as provided in § 15–105 of this subtitle, interest shall accrue at the rate of 9% per annum on any amount that:\n(1) is due and payable by law and under the written procurement contract; and\n(2) remains unpaid more than 37 days after a unit receives an invoice.\n(b) Interest shall accrue beginning on the 31st day after:\n(1) the day on which payment becomes due under a procurement contract; or\n(2) if later, the day on which the unit receives an invoice.","path":["Article - State Finance and Procurement"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gsf\u0026section=15-104","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:00:48Z","sha256":"553b8f1336ca13a9444d3e70a2f57d517d983c72ee214272ba75157268a78da7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-state-finance-and-procurement-15-103","next":"us-md/md.-code-state-finance-and-procurement-15-105"},"notice":"GroundRules: Original legal text. Not legal advice."}