1. A. In this chapter, the following terms have the meanings indicated.

2. B. Terms Defined.

   1. (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. (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. (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.

Authority: State Finance and Procurement Article, §§15-101—15-105, Annotated Code of Maryland

Effective date: January 2, 2017 (43:26 Md. R. 1449)

Regulation .01 amended effective September 18, 2023 (50:18 Md. R. 800)