                                 CODE OF VIRGINIA

PROMPT PAYMENT OF BILLS BY LOCALITIES (§ 2.2-4352)

Every agency of local government that acquires goods or services, or conducts
any other type of contractual business with a nongovernmental, privately owned
enterprise, shall promptly pay for the completed delivered goods or services by
the required payment date. The required payment date shall be either: (i) the
date on which payment is due under the terms of the contract for the provision
of the goods or services; or (ii) if a date is not established by contract, not
more than forty-five days after goods or services are received or not more than
forty-five days after the invoice is rendered, whichever is later.
		Separate payment dates may be specified for contracts under which goods or
services are provided in a series of partial executions or deliveries to the
extent that the contract provides for separate payment for partial execution or
delivery.
		Within twenty days after the receipt of the invoice or goods or services, the
agency shall notify the supplier of any defect or impropriety that would prevent
payment by the payment date.
		Unless otherwise provided under the terms of the contract for the provision of
goods or services, every agency that fails to pay by the payment date shall pay
any finance charges assessed by the supplier that shall not exceed one percent
per month.
		The provisions of this section shall not apply to the late payment provisions
in any public utility tariffs or public utility negotiated contracts.

HISTORY: 1985, c. 454, § 11-62.10; 2001, c. 844.