Common use of PROMPT PAYMENT POLICY Clause in Contracts

PROMPT PAYMENT POLICY. This procurement and the Contract(s) to be awarded pursuant to this solicitation are subject to the Prompt Payment Policy Directive issued by the Governor’s Office of Minority Affairs (GOMA) and dated August 1, 2008. Promulgated pursuant to Md. Code ▇▇▇., State Finance and Procurement Article, §§ 11-201, 13-205(a), and Title 14, Subtitle 3, and COMAR 21.01.01.03 and 21.11.03.01, the Directive seeks to ensure the prompt payment of all subcontractors on non-construction procurement contracts. The Contractor must comply with the prompt payment requirements outlined in the Contract, Section 31 “Prompt Payment” (see Attachment A). Additional information is available on GOMA’s website at: ▇▇▇▇://▇▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/Legislation%20Docs/PROMPTPAYMENTFAQs_000.pdf