N.Y. State Finance Law 179-E – Definitions
§ 179-e. Definitions. As used in this article, the following terms shall have the following meanings unless otherwise specified:
Terms Used In N.Y. State Finance Law 179-E
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means an enforceable agreement entered into by a contractor and a state agency. See N.Y. State Finance Law 179-E
- Contractor: means any person, partnership, firm, corporation, or association:
a. See N.Y. State Finance Law 179-E - Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Designated payment office: means the office designated by the state agency to which a proper invoice is to be submitted by a contractor. See N.Y. State Finance Law 179-E
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Proper invoice: means a written request for a contract payment that is submitted by a contractor setting forth the description, price, and quantity of goods, property, or services delivered or rendered, in such form and supported by such other substantiating documentation as the state comptroller or individual state agency may reasonably require. See N.Y. State Finance Law 179-E
- State agency: means any department, board, bureau, commission, division, office, council, institution, or committee in the executive, legislative, or judicial branches of state government; the city university of New York when acting on behalf of any of its senior colleges; the facilities development corporation; or the state university construction fund. See N.Y. State Finance Law 179-E
1. "Contract" means an enforceable agreement entered into by a contractor and a state agency.
2. "Contractor" means any person, partnership, firm, corporation, or association:
a. selling materials, equipment, or supplies or leasing property or equipment to a state agency;
b. constructing, reconstructing, rehabilitating, or repairing buildings or highways for, or on behalf of, a state agency; or
c. rendering or providing services pursuant to a contract with a state agency.
3. "Designated payment office" means the office designated by the state agency to which a proper invoice is to be submitted by a contractor.
4. "Payment date" means the date on which a check for payment pursuant to a contract is dated.
5. "Proper invoice" means a written request for a contract payment that is submitted by a contractor setting forth the description, price, and quantity of goods, property, or services delivered or rendered, in such form and supported by such other substantiating documentation as the state comptroller or individual state agency may reasonably require.
6. "Receipt of an invoice" means (a) the date on which a proper invoice is actually received in the designated payment office, or (b) the date on which the state agency receives the purchased goods, property, or services covered by the proper invoice, whichever is later, or (c) in regard to final payments on highway construction contracts, the date determined in accordance with the provisions of paragraph (g) of subdivision seven of § 38 of the highway law.
7. "Required payment date" means the date by which a contract payment must be made in order for the state government not to become liable for interest payments, pursuant to subdivision two or subdivision five of section one hundred seventy-nine-f of this article.
8. "Set-off" means the reduction by the comptroller of a payment due to a contractor by an amount equal to the amount of an unpaid legally enforceable debt owed by the contractor to the state of New York.
9. "State agency" means any department, board, bureau, commission, division, office, council, institution, or committee in the executive, legislative, or judicial branches of state government; the city university of New York when acting on behalf of any of its senior colleges; the facilities development corporation; or the state university construction fund.
10. "State funds" means funds held in joint custody by the state comptroller and the state commissioner of taxation and finance.