News Flash


Posted on: January 25, 2019

Goods & Services Prompt Payment Law Guidance

Beginning February 1 all goods and services contracts awarded, regardless of dollar amount, will be subject to goods and services prompt payment law, P.L. 2018, c. 127. Unless otherwise specified in a contract, the payment for goods and services will be due no later than 60 calendar days from the receipt of a properly executed invoice or from the date the goods and services were received as certified by an officer or duly designated employee. Otherwise, the municipality will have to pay the vendor interest. For SFY 2019 the interest rate is 2%. Local Finance Notice 2019-02 provides detail guidance on this new law. We suggest you review the Local Finance Notice with your Chief Financial Officer and Purchasing Official to ensure compliance with the new law.

Contact: Lori Buckelew, Senior Legislative Analyst,, 609-695-3481, x112.

Facebook Twitter Email

Other News in Home

OPMA and OPRA Bills Advance

Posted on: June 18, 2019

Telecom Tax Bill Advances

Posted on: June 17, 2019

Census Deadline, Resource

Posted on: June 10, 2019

Cannabis Update

Posted on: June 7, 2019

Senate Acts on Medical Marijuana

Posted on: June 3, 2019

Recreational Marijuana Stalls

Posted on: May 17, 2019

PILOT Sharing Bill Advances

Posted on: May 17, 2019

NJ Prepares for 2020 Census

Posted on: April 18, 2019

Cannabis Vote in May?

Posted on: April 12, 2019

Governor's Proposed SFY 2020 Budget

Posted on: March 6, 2019

NLC Launches Opportunity Zone Resources

Posted on: February 15, 2019

Gov. Murphy's State of the State

Posted on: January 18, 2019

116th Congress Convenes

Posted on: January 4, 2019