Common use of Payments and Fiscal Requirements Clause in Contracts

Payments and Fiscal Requirements. A. All payments shall be made in arrears and in conformance with State fiscal policies and procedures, and, as required by IC 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Indiana Auditor of State. State fiscal policies and procedures may include agency-specific requirements for submission of documentation to verify working capital, including balance sheets or profit and loss statements as requested by State. No payments will be made in advance of receipt of the goods or services that are the subject of this Contract except as permitted by IC 4-13-2-20. If the Contractor prefers not to have any interest calculated on payments made by the State as permitted by Indiana law and referenced below in Section 33, the Contractor may send a letter indicating such preference to the Indiana Auditor of State with a copy to DCS.

Payments and Fiscal Requirements. A. All payments shall be made in arrears and in conformance with State fiscal policies and procedures, procedures and, as required by IC § 4-13-2-14.8, by electronic funds transfer to the financial institution designated by the Contractor in writing unless a specific waiver has been obtained from the Indiana Auditor of State. State fiscal policies and procedures may include agency-specific requirements for submission of documentation to verify working capital, including balance sheets or profit and loss statements as requested by State. No payments will be made in advance of receipt of the goods or services that are the subject of this Contract except as permitted by IC § 4-13-2-20. If the Contractor prefers not to have any interest calculated on payments made by the State as permitted by Indiana law and referenced below in Section 3337, the Contractor may send a letter indicating such preference to the Indiana Auditor of State with a copy to DCS.