New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter I - Audit Of Revenues And Accounts Payable From State Funds And Funds Under Its Control
Part 18 - Prompt Payment Processing
Section 18.1 - Definitions
Current through Register Vol. 46, No. 12, March 20, 2024
As used in this Part, the following terms shall have the following meanings unless otherwise specified:
(a) Agency means a State agency which has entered into a contract with a contractor.
(b) Comptroller means the State Comptroller.
(c) Contract means an enforceable agreement entered into by a contractor and a State agency, including but not limited to written contracts and purchase orders, written or oral requests for goods or services, including public utility services and lease agreements.
(d) Contractor means any person, partnership, firm, corporation or association, including public utilities and not-for-profit organizations:
(e) Designated payment office means:
(f) Payment date means the date on which a check for payment pursuant to a contract is dated, or, if the contractor elects to receive payment by means of electronic funds transfer, the date a transaction for electronic funds transfer is initiated by the Statewide Financial System.
(g) Proper invoice means a written or electronic request for a contract payment that is submitted by a contractor setting forth the description, price, quantity of goods, property or services delivered or rendered, in such form and supported by such other substantiating documentation as the Comptroller or individual State agency may reasonably require.
(h) Receipt of an invoice means:
(i) Set-off means the reduction by the Comptroller of a payment due to a contractor by an amount equal to the amount of an unpaid legally enforceable debt owed by the contractor to the State of New York.
(j) State agency means any department, board, bureau, commission, division, office, council, institution or committee in the Executive, Legislative or Judicial branch of State government; the City University of New York when acting on behalf of any of its senior colleges, the Facilities Development Corporation or the State University Construction Fund.
(k) State funds means funds held in joint custody by the Comptroller and the State Commissioner of Taxation and Finance.