Common use of Payment to Contractor Clause in Contracts

Payment to Contractor. Payment for goods and/or services purchased by Montclair will be made to the contractor within 30 days of the later of an acceptable invoice from the contractor or Montclair’s acceptance of the contracted products and/or services. All non-disputed charges shall be paid by the University in accordance with New Jersey’s Prompt Payment Act, N.J.S.A. 52:32-32, et seq. If the contract with contractor exceeds Montclair’s fiscal year which ends on June 30, payment to contractor shall be subject to the availability of annual appropriations by the State of New Jersey sufficient to meet all of Montclair’s annual payment obligations.

Payment to Contractor. Payment for goods and/or services purchased by Montclair will be made to the contractor within 30 days of the later of an acceptable invoice from the contractor or Montclair’s acceptance of the contracted products and/or services. All non-disputed charges shall be paid by the University in accordance with New Jersey’s Prompt Payment Act, N.J.S.A. 52:32-32, et et. seq. If the contract with contractor exceeds Montclair’s fiscal year which ends on June 30, payment to contractor shall be subject to the availability of annual appropriations by the State of New Jersey sufficient to meet all of Montclair’s annual payment obligations.