These regulations are adopted by the Industrial Exhibit Authority in compliance with section 2880 of the Public Authorities Law of the State of New York.

These regulations specify the policies and procedures relating to payment on contracts entered into by the Industrial Exhibit Authority. For purposes of these regulations, a contract is a written agreement with any person, partnership, private corporation or association to sell materials, equipment or supplies, or to lease property or equipment to the authority, to construct, reconstruct, rehabilitate or repair buildings or improvements for or on behalf of the Authority or to provide any other services to the authority pursuant to a contract.