48 C.F.R. § 31.205-20
31.205-20 Interest and other financial costs.
Interest on borrowings (however represented), bond discounts, costs of financing and refinancing capital (net worth plus long-term liabilities), legal and professional fees paid in connection with preparing prospectuses, and costs of preparing and issuing stock rights are unallowable (but see 31.205-28). However, interest assessed by State or local taxing authorities under the conditions specified in 31.205-41(a)(3) is allowable.
Notes of Decisions
Cited in 5
cases (1 in the last 5 years), 1997–2021 · leading case: N. States Power Co. v. United States, 78 Fed. Cl. 449 (Fed. Cl. 2007).
N. States Power Co. v. United States, 78 Fed. Cl. 449 (Fed. Cl. 2007). “unallowable,” 48 C.F.R. § 31.205-20 . Similarly, the predecessor regulations that were applicable to the interest claim addressed in Wickham contained cost principles and procedures identical in scope and text to the current Federal Acquisition Regulations.”
Daewoo Eng'g & Constr. Co. v. United States, 73 Fed. Cl. 547 (Fed. Cl. 2006). “See 48 C.F.R § 31.205-20. Daewoo claimed financing costs of more than $12,000 in the certified claim.”
State of NY v. Shalala, 959 F. Supp. 614 (S.D.N.Y. 1997). “See 48 C.F.R. § 31.205-20 (interest prohibition) and 48 C.”
Doyon Utils., LLC v. United States (Fed. Cl. 2020). “205-20, 48 C.F.R. § 31.205-20 . “By its terms,” this provision “applies to interest on borrowings.”
Aclr, LLC v. United States (Fed. Cl. 2021). “” 48 C.F.R. § 31.205-20 . In context, it is clear that the qualifiers plaintiff asserts exist on the payment of interest do not actually apply.”
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