Section 3-122-148 - Installment purchase payment contract(a) Goods contracts may provide for purchase payments, including interest charges, over a period of time.(b) Installment payments should be used judiciously in order to achieve economy and not to avoid budgetary restraints and shall be justified in writing by the head of the purchasing agency.(c) Heads of purchasing agencies shall be responsible for ensuring that statutory or other prohibitions are not violated by use of installment provisions and that all budgetary, funding, or other required prior approvals are obtained.(d) When used, a provision for installment payments shall be included in the solicitation document.(e) An installment purchase payment contract shall comply with the certification of funds requirement pursuant to section 3-122-102(b).[Eff 12/15/95; comp 11/17/97; am and comp MAR 21 2008] (Auth: HRS §§ 103D-202, 103D-313) (Imp: HRS § 103D-313)