Code of Massachusetts Regulations
815 CMR - COMPTROLLER'S DIVISION
Title 815 CMR 4.00 - Late Penalty Interest
Section 4.01 - Applications Purpose Scope and Authority

(1) The purpose of 815 CMR 4.00 is to provide all departments of the Commonwealth with rules and procedures to govern the payment of interest to commercial vendors when departments do not make payment by the required contractual payment date for goods or services delivered.

(2)815 CMR 4.00 applies to goods and/or services delivered and accepted after March 24, 1988.

(3) All vendors of the Commonwealth except; Employees (including "03" employees), recipients of public assistance, cities and towns and other public instrumentalities designated as public agencies on the Commonwealth's vendor file, are eligible for late penalty interest in compliance with 815 CMR 4.00.

(4)815 CMR 4.00 et. seq. sets forth the respective responsibilities of the vendors, the departments and the Office of the Comptroller regarding the payment of the Commonwealth's obligations.

(5) It is the responsibility of all departments to establish encumbering and bill-paying procedures consistent with their internal control policies and in compliance with the MMARS Policy and Procedures Manual, as amended, which will result in the timely payment of all properly submitted invoices after the goods and/or services have been received.

(6)815 CMR 4.00et seq. is adopted under the authority of M.G.L. c. 7A, § 8, c. 29 §§ 20C, 29C.