OCM REGULATORY REQUIREMENTS
Payment Period
Retailers purchasing on credit must pay within 30 days of delivery.
Notice to Retailer
Notice is provided at the due date (Day 30).
Submission to OCM
Delinquent retailers are submitted to the OCM at 7 days past due (Day 37).
Credit Restriction
Retailer is placed on the OCM COD list at 7 days past due, per the OCM's Wednesday COD published list.
Calendar Basis
OCM regulations follow calendar days, regardless of weekends or holidays.
Summary
Per 9 NYCRR ยง 124.2, payment is due within 30 days of delivery. Retailers who do not pay are subject to notice at the due date and submission to the OCM at 7 days past due, resulting in placement on the published COD list.