New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LXXVII - New York Local Government Assistance Corporation
Subchapter C - Prompt Payment Policy
Part 9770 - Prompt Payment Policy
Section 9770.9 - Notification of defects

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 9770.9
Current through Register Vol. 46, No. 39, September 25, 2024

The corporation shall have 15 calendar days after receipt of an invoice by the designated payment office to notify the contractor of (a) defects in the delivered goods, property, or services, (b) defects in the invoice, or (c) suspected improprieties of any kind; and the existence of such defects or improprieties shall prevent the commencement of the time period specified in section 9770.5 of this Part. When the corporation fails to notify a contractor of such defects or suspected improprieties within 15 calendar days of receiving the invoice, the number of days allowed for payment of the correct proper invoice will be reduced by the number of days between the 15th day and the day that notification was transmitted to the contractor. If the corporation, in such situations, fails to provide reasonable grounds for its contention that a defect or impropriety exists, the date by which contract payment must be made in order for the corporation not be become liable for interest payments shall be calculated from the date of receipt of an invoice.

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