(1) Where a prime contractor entrusts a subcontractor with manufacturing or service for goods to be exported and where he or she has customs duties, etc. refunded under the Act on Special Cases concerning the Refund of Customs Duties Levied on Raw Materials for Export, he or she shall pay the refund to the subcontractor in accordance with terms of the refund received within 15 days after he or she received it.
(2) Notwithstanding paragraph (1), the refundable amount of customs duties, etc. shall be paid to the subcontractor within 60 days from the date of receipt of subject matter, etc., unless any fault attributable to the subcontractor exists.
(3) Where a prime contractor pays the refundable amount of customs duties, etc. after the due date prescribed in paragraphs (1) and (2), he or she shall pay interest for such days overdue, calculated according to the interest rate fixed within the limit of 40/100 per annum in consideration of economic circumstances, such as late-payment interest rates, etc. applied by banks under the Banking Act and publicly notified by the Fair Trade Commission. <Amended on May 17, 2010>[This Article Wholly Amended on Apr. 1, 2009]