(a) If the payment request has been submitted according
to the statewide accounting system requirements and these rules, the
comptroller shall initiate payment to the state agency for the amount
identified in the payment request by:
(1) electronic funds transfer; or
(2) warrant.
(b) A payment is not overdue if the payment is made
by the comptroller by the distribution date as defined in Government
Code, §2251.001.
(c) Any payment owed by an agency must be mailed or
transmitted electronically to the contractor no later than 30 days
after the later of the day:
(1) on which the agency received the goods;
(2) the performance of the service under the contract
is completed; or
(3) on which the agency received the invoice for goods
or services.
(d) Overdue payments, or the unpaid balance of a partially
paid invoice amount, will accrue interest at the interest rate in
effect on September 1 of the fiscal year in which the payment becomes
overdue. The rate in effect on September 1 is equal to the sum of:
(1) one percent; and
(2) the prime rate as published in the Wall Street
Journal on the first day of July of the preceding fiscal year that
does not fall on a Saturday or Sunday.
(e) The unpaid balance of a partial payment made within
the 30 day period provided by this section accrues interest as provided
by subsection (c) of this section unless the balance is in dispute.
(f) If the state agency has returned a disputed invoice
to the contractor and the state agency and the contractor resolve
the dispute in favor of the vendor, the vendor is entitled to receive
interest on the unpaid balance of the invoice submitted by the vendor
in accordance with this subsection.
(g) If the state agency returned a disputed invoice
to the contractor and the state agency and the contractor resolve
the dispute in favor of the agency, the contractor shall submit a
corrected invoice. The invoice shall be reviewed according to this
division starting from the date of the corrected invoice.
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