New York cannabis rules, explained for operators

What paperwork does a New York dispensary need for credit purchases?

Q: What paperwork does a New York dispensary need for credit purchases?

For a credit purchase, a New York dispensary needs a written contract with the supplier, the invoice, a record of the delivery date, and proof of payment showing the date the supplier received it. 9 NYCRR 124.2(a)(1) requires written contracts for all transactions related to the purchase of cannabis products. 9 NYCRR 125.13 requires licensees to keep financial records including sales invoices and receipts for at least five years, and the Office's delinquent payments guidance names sales invoices, receipts, purchase orders, delivery receipts and any other records related to delinquent payments. The delivery date matters because the 30-day payment clock runs from it, and payment in full is measured per delivery date. If a supplier reports the store, those documents are what the Office reads to settle the dispute under 124.2(f).

Checked against OCM pages and the regulation text on September 6, 2026.

For every credit purchase, keep four things: the written contract with the supplier, the invoice, a record of the delivery date, and proof of payment showing the date the supplier received it. Keep them together, per delivery, for five years.

The regulation is 9 NYCRR 124.2 for the contract and the credit terms, and 9 NYCRR 125.13 for what you keep and how long. The Office's delinquent payments guidance names the specific documents that decide a dispute.

What the regulation requires

A written contract

Section 124.2(a)(1) requires supply licensees to "execute written contracts between parties for all transactions related to the purchase of cannabis products, regardless of license type." The duty sits on the supplier, but the contract is between the two of you, and it is the document that sets the credit terms and the method of notice. Source: 9 NYCRR 124.2(a)(1).

The notice of default a supplier must send before reporting you goes "by first class mail or by such other method as contemplated or permitted by or under the applicable agreement." The contract decides where that notice arrives. Source: 9 NYCRR 124.2(e)(1).

Credit terms inside 30 days

Section 124.2(c)(2) allows credit as long as retailers "pay their balance due within thirty (30) days, unless otherwise approved by the Board." A term longer than 30 days in a contract is not valid without Board approval. Source: 9 NYCRR 124.2(c)(2).

Financial records for five years

Section 125.13(c)(2) lists among required records financial records including "bank statements, sales invoices, receipts, and any other records maintained for tax purposes." Section 125.13(a) sets the retention period at "at least five (5) years from the date of creation." Source: 9 NYCRR 125.13(a) and (c)(2).

The Office's delinquent payments guidance applies that section to credit purchases by name. It says records must include "financial records, documents pertaining to, bank statements, sales invoices, receipts, purchase orders, delivery receipts and any other records related to delinquent payments." Source: OCM Delinquent Payments Guidance, rev. 1/1/2026.

Cash means specific things

The Retailer's Guide says payment in cash "includes checks drawn on your business account and electronic funds transfers, but not credit cards." Section 124.2(b) bars third-party checks and post-dated checks from a retail dispensary. Your proof of payment should show a method the regulation allows. Source: OCM Retailer's Guide to the C.O.D. List; 9 NYCRR 124.2(b).

Why the delivery date is the key document

The 30 days run from delivery, not from the invoice date. The Office's reporting page says retailers "must pay the bill within 30 days of the cannabis product being delivered." The guidance defines delivery date as "The date that cannabis products sold on credit to a retailer are delivered." Source: OCM Delinquent Payment Reporting; OCM Delinquent Payments Guidance.

Payment in full is measured per delivery date. The FAQ defines it as a payment "that satisfies the total invoice amount due (less late fees or interest) for a particular delivery date." Source: OCM Delinquent Payments FAQ, supplier question 11.

When a supplier reports you, the form asks for "the date cannabis products were delivered to the retailer with a balance due after 30 days" and the amount due. The notice of default must show the delivery date and the amount. If your delivery record and the supplier's disagree, the dispute turns on which one is documented. Source: OCM C.O.D. List Supplier Instructions, rev. 1/1/2026.

The Office's inspection training tells inspectors to check that delivery manifests carry two signatures when a vendor delivers product. That signed manifest is the delivery record the state already expects you to have. Source: OCM CHIP Academy session 3.6.

The paper trail, in order

Step	Document	What it must show	Requirement
1	Written contract	Credit terms within 30 days, how notices are sent	124.2(a)(1), (c)(2), (e)(1)
2	Purchase order	What was ordered and at what price	OCM Delinquent Payments Guidance
3	Invoice	Amount due, tied to a delivery	125.13(c)(2)
4	Delivery receipt or signed manifest	The delivery date, in writing	OCM guidance; CHIP Academy inspection checklist
5	Final payment date	Delivery date plus 30 days, from the OCM Credit Calendar	124.2(c)(2); OCM Credit Calendar
6	Proof of payment	Amount, method, and the date the supplier received it	125.13(c)(2); OCM FAQ definition of payment in full
7	Supplier's written confirmation	That payment in full was received, and reported if you were listed	OCM FAQ, supplier question 9

Sources: 9 NYCRR 124.2; 9 NYCRR 125.13; OCM Delinquent Payments Guidance; OCM Delinquent Payments FAQ.

What the regulation requires versus what stores keep

The gap is usually not the invoice. Most stores have the invoice. The gap is the documents on either side of it.

The delivery date. Stores file the invoice by invoice date. The Office measures from delivery. A signed manifest or delivery receipt filed with the invoice closes that gap. Source: OCM Delinquent Payment Reporting; OCM CHIP Academy session 3.6.
The date the supplier received payment. A check register shows the date you wrote the check. The supplier's one-business-day duty to report payment runs from the day it received payment in full. Ask for written confirmation of that date. Source: OCM Delinquent Payments FAQ, supplier question 9.
The contract. Many credit relationships run on an emailed price list. Section 124.2(a)(1) expects a written contract for every transaction. Source: 9 NYCRR 124.2(a)(1).
Per-delivery grouping. A running account balance does not show whether a particular delivery date is paid in full. The Office's definition of payment in full is per delivery date. Source: OCM Delinquent Payments FAQ, supplier question 11.
The notice of default, if one arrives. It is the supplier's document, but it becomes yours the moment it is mailed to you. File it with the delivery it names.

This description of what stores keep is drawn from the structure of the rules, not from a published Office finding. UNVERIFIED

UNVERIFIED The OCM seed-to-sale page carries a notice titled "Delinquent Payment Reporting Transitions to Metrc Effective 9/15/2026." That notice says the new Metrc functionality will "capture cannabis product credit transfers to retailers, delinquencies and COD list publication." Source: OCM seed-to-sale page.

The page did not spell out what changes for retailers after that date. Whether the supplier reporting tool, the notice-of-default upload, or the Wednesday schedule described here changes on September 15, 2026 could not be verified at the time of writing. Check the OCM page above before relying on any process detail after that date.

What this means for your store

Open one folder per delivery, not per supplier. Payment in full is measured per delivery date under the Office's definition.
Put the delivery date on the front of the folder the day the product arrives, and look up the final payment date on the OCM Credit Calendar.
Keep the signed manifest with the invoice. It is your proof of the date the 30 days started.
Pay by a method the regulation allows and keep the confirmation. Third-party checks and post-dated checks are barred by 124.2(b).
Get the supplier to confirm in writing the date it received payment in full. That date drives your removal from the C.O.D. list if you were listed.
Get a written contract from each supplier that extends you credit. The notice of default will follow whatever the contract says about notice.
Keep the folder for five years from the date of the last document in it, per 125.13(a).