A. Unless payment is deferred, delayed, or set-off under COMAR 21.02.07.03, payment under a procurement contract shall be made within 30 days:
- (1) After the day on which the payment becomes due under the procurement contract; or
- (2) If later, after the day on which the agency receives a proper invoice.
- B. Payment will be considered to be made on the settlement date for an electronic funds transfer payment or the mailing date of the check for a check payment.
- C. Payments falling due on a weekend, State holiday, or federal holiday may be made on the following business day without incurring late payment interest penalties.
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)