Other measures he suggests for minimising the risk of delayed payments involve flexibility around credit terms.
Without the tobacco money, the state faces the prospect of delaying payments of about $1.7 billion to localities.
But lately there's been talk of delaying payments to the military and defense contractors, which could leave me hanging.
"Treasury considered asset sales; imposing across-the-board payment reductions; various ways of attempting to prioritize payments; and various ways of delaying payments," the report said.
Last summer, "Treasury considered asset sales; imposing across-the-board payment reductions; various ways of attempting to prioritize payments; and various ways of delaying payments," a department report said.
Also in Maine, the judicial branch anticipates a three- to six-week period of delaying payments to vendors and lawyers, coinciding with the term ending the fiscal year.
While the report called New York's practice of delaying payments to its pension fund a "gimmick," Morris Peters, a spokesman for the state's budget division, said that the state was not relying on any new gimmicks.
Table 10 explains the relationship between 'kinsfolk's business experience' with the 'problem of delayed payments of bills to creditors faced by women entrepreneurs' manifested in Table 7. Further, if women entrepreneurs have kinsfolk in business then they become less susceptible to face the problems of delayed payment of bills to creditors.
UTPs consist, for example, of delaying payments, restricting access to the market, unilateral or retroactive changes to contract terms, sudden and unjustified cancellation of contracts, unfair transfers of commercial risk and transferring transport and storage costs to suppliers.
A Test of Lazear's Theory of Delayed Payment Contracts, Journal of Labor Economics.
