12-4-703 - When payment required. - Tennessee Statutes

12-4-703. When payment required.

An agency which acquires property or services pursuant to a contract with a business shall pay for each complete delivered item of property or service in accordance with the provisions of the contract between the business and agency or, if no date or other provision for payment is specified by contract, within forty-five (45) days after receipt of the invoice covering the delivered items or services.

[Acts 1985, ch. 57, § 1.]