{"data":{"id":"us/32-cfr-37.820","jurisdiction":"us","citation":"32 CFR 37.820","heading":"Must I require a recipient to return interest on advance payments?","body":"If your expenditure-based TIA provides for either advance payments or payable milestones, the agreement must require the recipient to:\n(a) Maintain in an interest-bearing account any advance payments or milestone payment amounts received in advance of needs to disburse the funds for program purposes unless:\n(1) The recipient receives less than $120,000 in Federal grants, cooperative agreements, and TIAs per year;\n(2) The best reasonably available interest-bearing account would not be expected to earn interest in excess of $1,000 per year on the advance or milestone payments; or\n(3) The depository would require an average or minimum balance so high that it would not be feasible within the expected Federal and non-Federal cash resources for the project.\n(b) Remit annually the interest earned to the administrative agreements officer.","path":["Title 32—National Defense","Subtitle A—Department of Defense","CHAPTER I—OFFICE OF THE SECRETARY OF DEFENSE","SUBCHAPTER C—DoD GRANT AND AGREEMENT REGULATIONS","PART 37—TECHNOLOGY INVESTMENT AGREEMENTS","Subpart G—Award Terms Related to Other Administrative Matters"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-32.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:30Z","sha256":"ac3976755ffac959f03d1bbcf55b44ff645bc8cef9f52e95d76845e4bc746911","source_id":"us-cfr","stale":true,"prev":"us/32-cfr-37.815","next":"us/32-cfr-37.825"},"notice":"GroundRules: Original legal text. Not legal advice."}