(1) Procurement Contract. A contract under which the City procures goods or services, whether or not such contract is subject to competitive bidding.
(2) Subcontractor. A person providing goods or services under a contract with a Vendor.
(3) Properly Executed Invoice. An invoice prepared in accordance with the terms and conditions of the procurement contract.
(4) Subcontractor Payment Directive Agreement. An agreement between a Vendor, its subcontractor, and a funds administrator, where the Vendor agrees to make payments due the subcontractor by utilizing the funds administrator in order to ensure that the subcontractor's suppliers and lower tier subcontractors are paid.
(5) Vendor. A person providing goods or services under a Procurement Contract.
(6) Funds Administrator. An entity that, pursuant to a Subcontractor Payment Directive Agreement, assumes responsibility for making payments to the Vendor's subcontractors and such subcontractors' suppliers and lower tier subcontractors.
Notes
| 246 | Amended, Bill No. 160370 (approved June 28, 2016). |