(a) Submission of voucher. For contractors operating under more than one MSP Operating Agreement, the contractor may submit a single monthly voucher applicable to all its agreements. Each voucher submission shall include a certification that the vessel(s) for which payment is requested were operated in accordance with Sec. 295.21(d) and applicable MSP Operating Agreements with MARAD, and consideration shall be given to reductions in amounts payable as set forth in Sec. 295.30. All submissions shall be forwarded to the Director, Office of Accounting, MAR-330 Room 7325, Maritime Administration, 400 Seventh Street, SW., Washington, DC 20590. Payments shall be paid and processed under the terms and conditions of the Prompt Payment Act, 31 U.S.C. 3901.
(1) Payments shall be made per vessel, in equal monthly installments, of $175,000.
(2) To the extent that reductions under Sec. 295.30(b) are known, such reductions shall be applied at the time of the current billing. The daily reduction amounts shall be based on the annual amounts in 295.30(a) of this part divided by 365 days (366 days in leap years) and rounded to the nearest cent. Daily reduction amounts shall be applied as follows: FY 1997--$5,753.42FY 1998--$5,753.42FY 1999--$5,753.42FY 2000--$5,737.70FY 2001--$5,753.42FY 2002--$5,753.42FY 2003--$5,753.42FY 2004--$5,737.70FY 2005--$5,753.42
(3) In the event a monthly payment is for a period less than a complete month, that month's payment shall be calculated by multiplying the appropriate daily rate in Sec. 295.31(a)(2) by the actual number of days the Eligible Vessel operated in accordance with Sec. 295.21.
(4) MARAD may require, for good cause, that a portion of the funds payable under this section be withheld if the provisions of Sec. 295.21(d) have not been met.
(5) Amounts owed to MARAD for reductions applicable to a prior billing period shall be electronically transferred using MARAD's prescribed format, or a check may be forwarded to the Maritime Administration, P.O. Box 845133, Dallas, Texas 75284-5133, or the amount owed can be credited to MARAD by offsetting amounts payable in future billing periods.
(b) [Reserved]