Plain Text Law

Regulation .01 Definitions.

Regulation .01 Definitions.Copy Citation

A.
In this chapter, the following terms have the meanings indicated.
B.
Terms Defined.
(1)
“Late payment” means any amount that is due and payable by law under a written procurement contract, without deferral, delay, or set-off under COMAR 21.02.07.03, and remains unpaid more than 37 days after an agency receives a proper invoice.
(2)
“Payment” includes all required processing and authorization by the Comptroller of the Treasury, as provided under COMAR 21.02.07, and may be deferred, delayed, or set-off as applicable under COMAR 21.02.07.03.
(3)
“Proper invoice” means a bill, written document, or electronic transmission, readable by the agency, provided by a vendor requesting an amount that is due and payable by law under a written procurement contract for property received or services rendered that meets the requirements of Regulation .02 of this chapter.