How is payment deemed to be made?

Payment is deemed to be made on the date the City issues a check to the Contractor or posts electronic payment because this is the established process for initiating payment transactions. The specific date of payment reflects when the City confirms its intent to fulfill its financial obligation, which is crucial for accounting and financial record-keeping on both sides. This approach ensures clarity and consistency in payment timing, as it bases the payment status on the City's action rather than the Contractor’s actions or statuses.

Other options suggest different aspects of the transaction process but do not align with the accepted method of payment documentation. For example, simply receiving the invoice or sending a confirmation of receipt does not constitute a finalization of payment, as these actions occur prior to actual payment being processed. Similarly, agreement on service completion might indicate that work has been done, but it does not connect directly to the payment process unless followed by the actions that actually execute the payment.