N.Y. Comp. Codes R. & Regs. tit. 7 § 700.5

Current through Register Vol. 46, No. 43, October 23, 2024

Section 700.5 - Deinitions

For purposes of this Part:

(a) fair market price shall mean a reasonable price selected by the commissioner or his designee at which a vendor of the same or similar product or service who is regularly engaged in the business of selling such product or service offers to sell such a product or service under similar terms in the same market.

(b) Market shall mean the territorial boundaries of the State of New York.

(c) Time of sale shall mean the date on which the product or service is delivered to the purchaser or the date on which payment is made, whichever occurs first.

(d) Price Review Board shall mean the Commissioner of Correctional Services, Commissioner of the Office of General Services and Director of the Budget, or their designees.

(e) Appellant shall mean the purchaser bringing the appeal.

(f) Respondent shall mean the Director of Correctional Industries.

(g) The parties shall mean the appellant and respondent.

N.Y. Comp. Codes R. & Regs. Tit. 7 § 700.5