Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 15-103

  • Contract: A legal written agreement that becomes binding when signed.
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
It is the policy of the State to make a payment under a procurement contract within 30 days:

(1) after the day on which the payment becomes due under the procurement contract; or

(2) if later, after the day on which the unit receives an invoice.