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PROCEDURE . The DEPARTMENT and GRANTEE agree to use the <br /> PROCEDURE guidelines accounting for FRDAP funds disbursed <br /> under the PROJECT . The parties further agree that the <br /> principles for determining the eligible costs , supporting <br /> documentation and minimum reporting requirements of the <br /> PROCEDURE shall be used . <br /> 7 . Allowable indirect costs shall not exceed 15 % of the <br /> GRANTEE ' S eligible wages and salaries . Indirect costs that <br /> exceed 15 % must be approved in advance in writing by the <br /> DEPARTMENT to be considered eligible PROJECT expenses . <br /> 8 . Pursuant to s . 215 . 422 , Florida Statutes , the Department ' s <br /> Project Manager shall have five ( 5 ) working days , unless <br /> otherwise specified herein , to inspect and approve the <br /> payment requests for payment . The DEPARTMENT must submit a <br /> request for payment to the Florida DEPARTMENT of Banking and <br /> Finance within twenty ( 20 ) days ; and the DEPARTMENT of <br /> Banking and Finance has fifteen ( 15 ) days to issue a <br /> warrant . Days are calculated from the date the invoice is <br /> received or the date the services are received , inspected , <br /> and approved , whichever is later . Invoice payment <br /> requirements do not start until a complete and correct <br /> invoice has been received . Invoices which have to be <br /> returned to the GRANTEE for correction ( s ) will result in a <br /> delay in the payment . A Vendor Ombudsman has been <br /> established within the Florida DEPARTMENT of Banking and <br /> Finance who may be contacted if a contractor is experiencing <br /> problems in obtaining timely payment ( s ) from a State of <br /> Florida agency . The Vendor Ombudsman may be contacted at <br /> ( 850 ) 410 - 9724 or ( 800 ) 848 - 3792 . <br /> 9 . In accordance with s . 215 . 422 , Florida Statutes , the <br /> DEPARTMENT shall pay the GRANTEE interest at a rate as <br /> established by s . 55 . 03 ( 1 ) , Florida Statutes , on the unpaid <br /> balance , if a warrant in payment of an invoice is not issued <br /> within 40 days after receipt of a correct invoice and <br /> receipt , inspection , and approval of the goods and services . <br /> Interest payments of less than $ 1 will not be enforced <br /> unless the GRANTEE requests payment . The interest rate <br /> established pursuant to s . 55 . 03 ( 1 ) , Florida Statutes , by <br /> Comptroller ' s Memorandum No . 12 ( 1999 - 00 ) dated December 2 , <br /> 2000 , has been set at 11 . 0 % per annum or . 0003014 % per day . <br /> The revised interest rate for each calendar year beyond 2000 <br /> for which the term of this Agreement is in effect can be <br /> Page 3 of 11 <br />