Hawaii Revised Statutes 103D-708 – Interest
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Terms Used In Hawaii Revised Statutes 103D-708
- Contractor: means any person having a contract with a governmental body. See Hawaii Revised Statutes 103D-104
- Governmental body: means any department, commission, council, board, bureau, authority, committee, institution, legislative body, agency, government corporation, or other establishment or office of the executive, legislative, or judicial branch of the State, including the office of Hawaiian affairs, and the several counties of the State. See Hawaii Revised Statutes 103D-104
Interest on amounts ultimately determined to be due to a contractor or the governmental body shall be payable at the statutory rate applicable to judgments against the State under chapter 662 from the date the governmental body receives notice of the written claim through the date of decision or judgment, whichever is later; except that if an action is initiated in circuit court pursuant to § 103D-711, interest under this section shall only be calculated until the time such action is initiated.