N.Y. State Finance Law 179-U – Advance payments
§ 179-u. Advance payments. 1. When a state agency administering a contract shall advise the not-for-profit organization of the agency's intention to renew the contract, the not-for-profit organization, may, upon receipt of a written directive, be entitled to an advance payment pending execution of the renewal contract if such contract is not fully executed by the commencement date of the succeeding contract; the written directive shall specifically set forth the dollar amount and the period of time covered by the advance payment. Such advance payment shall offset future payments due to the organization for services provided during the term of the prospective renewal contract and shall not exceed the maximum contract amount set forth in said renewal contract.
Terms Used In N.Y. State Finance Law 179-U
- Advance payment: means a payment or payments made by a state agency to a not-for-profit organization for services rendered pursuant to a written directive or as the result of exercising an advance payment provision included in a contract or renewal contract. See N.Y. State Finance Law 179-Q
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means an enforceable agreement entered into by a not-for-profit organization and a state agency or any agent acting for such state agency in the procurement process. See N.Y. State Finance Law 179-Q
- organization: means a domestic corporation incorporated pursuant to or otherwise subject to the not-for-profit corporation law, a charitable organization registered with the secretary of state, a special act corporation created pursuant to chapter four hundred sixty-eight of the laws of eighteen hundred ninety-nine, as amended, a special act corporation formed pursuant to chapter two hundred fifty-six of the laws of nineteen hundred seventeen, as amended, a corporation authorized pursuant to an act of congress approved January fifth, nineteen hundred five, (33 stat. See N.Y. State Finance Law 179-Q
- Renewal contract: means the documents necessary to continue in effect an existing contract between a state agency and not-for-profit organization, including any simplified contract documents in a form approved by the office of the state comptroller. See N.Y. State Finance Law 179-Q
- State agency: means any department, board, bureau, commission, division, office, council, institution or committee in the executive branch of government, the urban development corporation or the natural heritage trust to which an appropriation is made for the purposes of carrying out a program as defined herein. See N.Y. State Finance Law 179-Q
- Written directive: means a written request by a state agency to a not-for-profit organization authorizing such organization either to begin providing services during the negotiation of a contract or to continue providing services during the negotiation of a renewal contract. See N.Y. State Finance Law 179-Q
2. A state agency providing an advance payment pursuant to subdivision one of this section shall submit a written directive, a voucher and such other documents as may be required to the comptroller for approval.