Flushing Library Contract eBook

DCAS may establish inspection and testing facilities, employ inspection personnel, enter into arrangements for the joint or cooperative use of laboratories and inspection and testing facilities, and contract with others for inspection or testing work as needed. The CCPO and DCAS may delegate authority for inspection and testing to City agencies. PROMPT PAYMENT. (a) Policy. It is the policy of the City of New York to process contract payments efficiently and expeditiously so as to assure payment in a timely manner to firms and organizations that do business with the City. (b) Definitions. In this subsection, the following words have the meanings indicated. Applicable Interest Rate. Interest shall be the maximum amount allowed by law or such lower uniform interest rate as may be set jointly by the Comptroller and OMB. Designated Billing Office. The office or employee designated in the contract to which a proper invoice is to be submitted by a contractor. Discount Date. The date by which, if payment is made, a specified invoice payment reduction, or discount, can be taken. Invoice Received or Acceptance Date (“IRA Date”) – Goods and Services. Section 4-06

(i) For purposes of determining a payment due date for goods and services and the date on which interest will begin to accrue and for no other purpose, an invoice received or acceptance date (“IRA date") is defined as the later of: (A) the date a proper invoice is actually received by the designated billing office if the agency annotates the invoice with the date of receipt at the time of receipt, or (B) the seventh day after either the date on which the goods are actually delivered or the services are actually performed, unless: ((a)) the agency has actually accepted and approved the goods or the services before the seventh day (in which case the acceptance date shall substitute for the seventh day after the delivery or performance date), or ((b)) a longer acceptance period is required by law or included in the contract to afford the agency a practicable opportunity to inspect, test, and accept the goods or evaluate the services (in which case the date of actual acceptance or the date on which such longer acceptance period ends shall substitute for the seventh day after the delivery or performance date).

147