2.2-4350 - Prompt payment of bills by state agencies. - Virginia Statutes

§ 2.2-4350. Prompt payment of bills by state agencies.

A. Every state agency that acquires goods or services, or conducts any othertype of contractual business with nongovernmental, privately ownedenterprises shall promptly pay for the completely delivered goods or servicesby the required payment date.

Payment shall be deemed to have been made when offset proceedings have beeninstituted, as authorized under the Virginia Debt Collection Act (§ 2.2-4800et seq.).

B. Separate payment dates may be specified for contracts under which goods orservices are provided in a series of partial deliveries or executions to theextent that such contract provides for separate payment for such partialdelivery or execution.

(1984, c. 736, §§ 11-62.2, 11-62.3; 1992, c. 75; 2001, c. 844.)