New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LV - Dormitory Authority
Part 4701 - Prompt Payment Policy
Section 4701.4 - Scope

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4701.4

Current through Register Vol. 46, No. 39, September 25, 2024

This statement of prompt payment policy shall be applicable to all contract payments. A contract payment is a payment to a contractor pursuant to a written contract, or an amendment thereto, signed by an authorized officer of the authority and of the contractor, a fully executed change order or an executed purchase order. A contractor is a person, partnership, private corporation, limited liability company or association:

(a) selling materials, equipment, or supplies or leasing property or equipment to the authority;

(b) constructing, reconstructing, rehabilitating or repairing facilities or other improvements for or on behalf of the authority; or

(c) rendering or providing services to the authority pursuant to a contract.

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