REQ Prompt Pay Discount Form new~6.doc
DOC document 45 KB Posted
- Attached to
- RFR 221931 Courier Services
- Solicitation number
- BD-21-1031-ADMIN-ADM08-60554
- Issued by
- Suffolk County, Boston City, Massachusetts
About this file
This document is a Prompt Payment Discount Form from the Commonwealth of Massachusetts Department of Public Health. It outlines the requirements for vendors to provide prompt payment discounts when doing business with the Commonwealth. Vendors must provide discount percentages for payment issued within 10, 15, 20, and 30 days. The Commonwealth may use these discounts as a basis for vendor selection and may negotiate further discounts. If no discount is offered, the vendor will be paid within the standard 45-day payment cycle. The discounts apply to the date the payment is issued, not the date the vendor receives the payment.
The related state and local contract opportunity is for Courier Services (RFR 221931) in the state of Massachusetts. No other details about the contract opportunity are provided in the document.
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Text version
COMMONWEALTH OF MASSACHUSETTS
DPH Prompt Pay Discount Form
(Invoice discounts for receiving accelerated payments)
Vendor Name: .
Vendor Code (VCUST): .
Contract Number(s): .
Prompt Payment Discounts (PPD). All Vendors doing business with the Commonwealth must provide a Prompt Payment Discount (PPD) for receiving early payments unless the Vendor can define a statutory or legal reason for accelerating payments (MM3, M03 and M04 contracts). Vendors benefit from PPD by increased, usable cash flow as a result of fast and efficient payments for commodities or services rendered.
The Commonwealth benefits because Vendors reduce the cost of products and services through the applied discount. While Vendors have flexibility in determining the actual % discount(s) offered to the Commonwealth, the discount(s) must be identified for 10, 15, 20 and/or 30 days for payment issuance in the column entitled “Prompt Payment Discount %” below. The Department of Public Health may use the prompt pay discounts submitted as a basis for selection and may negotiate discounts as deemed in the best interest of the Department.
If a Vendor does not chose a Prompt Day Discount or if there is no statutory or legal exemption, the vendor will be paid within the 45 day payment cycle in accordance with the Commonwealth’s Bill Paying Policy.
All discounts offered will be taken in cases where the payment issue date is within the specified number of days listed below and in accordance with the Commonwealth’s Bill Paying Policy. Payment days will be measured:
from the date goods are received and accepted / performance was completed OR the date an invoice is received by the Commonwealth, (whichever is later) to the date the payment is issued as an EFT (preferred method) or mailed by the State Treasurer.
The date of payment “issue” is the date a payment is considered “paid” not the date a payment is “received” by a Vendor.
If internal Vendor systems require an alternate method of measuring payment issue dates, the Vendor must note the issues below or on an attached page if necessary to be considered by the PMT.
Enter the Prompt Payment Discount percentage (%) off the invoice payment, for each of the payment issue dates listed, if the payment is issued within the specified Payment Issue days. For example:
5% - 10 Days
4% - 15 Days
3% - 20 Days
2% - 30 Days
If no discount is offered enter 0% and check box below.
| Prompt Payment Discount % |
| Payment Issue Date w/in |
| % |
| 10 Days |
| % |
| 15 Days |
| % |
| 20 Days |
| % |
| 30 Days |
FORMCHECKBOX
I agree to the 45 day cycle. No Prompt Pay Discount is offered.
Vendor Authorized Signature _________________________________ Date: ____________
Vendor Authorized Signatory Print Name and Title: __________________________________
File details come from the government source that posted it. Updated .