Procurement Policy Board (PPB)

The Procurement Policy Board is authorized to promote and put into effect rules governing the procurement of goods, services, and construction by the City of New York.

The Board

Guillermo Chacón - Chair
Wayne Lambert - Member
Marc Heinrich - Member
Charlette Hamamgian - Member
Victor O. Olds - Member

Administrative Procedures

Upcoming Public Meetings/Hearings

On Thursday, May 1, 2025, at 11:00 AM, the New York City Public Procurement Board will hold a public hearing in the Boardroom of 255 Greenwich Street, 9th Floor, in the Borough of Manhattan.

Agenda

For more information on accessibility or to make a request for accommodations, such as sign language interpretation services, please contact the Disability Service Facilitator via email at DisabilityAffairs@mocs.nyc.gov or via phone at (212) 298-0734. Advanced notice is requested to allow sufficient time to arrange the accommodation. Please notify the Disability Service Facilitator at least five (5) business days in advance of the hearing.

PPB Rules

This copy of the Rules, while not official, is, to the best of our knowledge, complete and accurate at the time of its printing. The underlying purposes of these Rules are to simplify, clarify and modernize the law governing procurement by the City of New York.

The underlying purposes of these Rules are to:

• Simplify, clarify and modernize the law governing procurement by the City of New York;
• Permit the continued development of procurement policies and practices;
• Make as consistent as possible the uniform application of these policies throughout New York City agencies;
  
• Provide for increased public confidence in New York City's public procurement procedures;
• Ensure the fair and equitable treatment of all persons who deal with the procurement system of the City of New York;
• Provide for increased efficiency, economy, and flexibility in City procurement activities and to maximize to the fullest extent the purchasing power of the City;
• Foster effective broad-based competition from all segments of the vendor community; including small businesses, minority and women-owned and operated enterprises;
• Safeguard the integrity of the procurement system and protect against corruption, waste, fraud, and abuse;
• Ensure appropriate public access to contracting information; and
• Foster equal employment opportunities in the policies and practices of contractors and subcontractors wishing to do business with the City.
  

The official text to the Procurement Policy Board Rules can be found in The Rules of the City of New York, Volume 4, which you can purchase from:

New York Legal Publishing Corporation
120 Broadway
Menands, NY 12204
(518) 459-1100
(800) 541-2681

Prompt Payment Interest Rate

Section 4-06 of the Procurement Policy Board Rules (Rules) requires City agencies to process contract payments efficiently and expeditiously so as to assure timely contract payments to those suppliers doing business with the City.

The Rules further require that when payments are made after the Required Payment Date ("RPD"), interest, unless otherwise specified in the Rules, must be paid to the supplier.

The Comptroller and the Office of Management and Budget (OMB) have jointly set the new Prompt Payment Interest Rate.

Current Prompt Payment Interest Rate:

January 1, 2024 - June 30, 2024: 4.875%

Previous Prompt Payment Interest Rates

In Fiscal 2023, the net interest paid by Mayoral agencies citywide totaled $459,377.

Reports