N.Y. Comp. Codes R. & Regs. tit. 21 § 1002.5

Current through Register Vol. 46, No. 25, June 18, 2024

Section 1002.5 - Receipt of invoice date

(a) Effective through June 30, 1989. Except where adjusted pursuant to section 1002.8, 1002.9, 1002.10, 1002.11, 1002.12 or 1002.13 of this Part, the ROI date shall be:

(1) in the case of final payments on capital construction contracts, 30 calendar days after the date on which the contract work has been accepted by the project manager or chief engineer of the corporation or their designee;

(2) in the case of contracts which require that the contractor be paid at predetermined intervals, other than leases, licenses or permits relating to the use of real property, the 45th calendar day prior to each payment date specified in the contract, or the date upon which a proper invoice, if required, is submitted, whichever date is later; or

(3) in the case of periodic payments pursuant to leases, licenses or permits relating to the use of real property for which an invoice is not required by the instrument, the 45th day prior to the last day under the instrument on which payment may be made without penalty, or the 45th day prior to the 20th day after the payment due date where the instrument does not provide for a penalty upon late payment;

(4) in the case of interest payments required to be paid pursuant to this Part, the payment date for the late payment as to which interest is due;

(5) in all other cases, the date of the receipt of a proper invoice as defined in section 1002.2(g) of this Part.

(b) The ROI date determined in accordance with subdivision (a) of this section shall be adjusted in the situations described in sections 1002.8, 1002.9, 1002.10, 1002.11, 1002.12 and 1002.13 of this Part, in accordance with the procedures outlined in those sections.

(c) Effective July 1, 1989. Except where adjusted pursuant to section 1002.8, 1002.9, 1002.10, 1002.11, 1002.12 or 1002.13 of this Part, the ROI date shall be:

(1) in the case of final payments on capital construction contracts, 30 calendar days after the date on which the contract work has been accepted by the project manager or chief engineer of the corporation or their designee;

(2) in the case of contracts which require that the contractor be paid at predetermined intervals, other than leases, licenses or permits relating to the use of real property, the 30th calendar day prior to each payment date specified in the contract, or the date upon which a proper invoice, if required, is submitted, whichever date is later; or

(3) in the case of periodic payments pursuant to leases, licenses or permits relating to the use of real property for which an invoice is not required by the instrument, the 30th day prior to the last day under the instrument on which payment may be made without penalty, or the 30th day prior to the 20th day after the payment due date where the instrument does not provide for a penalty upon late payment;

(4) in the case of interest payments required to be paid pursuant to this Part, the payment date for the late payment as to which interest is due;

(5) in all other cases, the date of the receipt of a proper invoice as defined in section 1002.2(g) of this Part.

(d) The ROI date determined in accordance with subdivision (a) of this section shall be adjusted in the situations described in sections 1002.8, 1002.9, 1002.10, 1002.11, 1002.12 and 1002.13 of this Part, in accordance with the procedures outlined in those sections.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 1002.5