iBuy – Requesting Non-Standard Payment Terms in iBuy
This article provides step by step instructions for requesting non-standard payment terms in iBuy.
University policy Standard Payment Term is Net 30 Days. iBuy allows you to request Non-Standard Payment Terms if the vendor provides a payment discount or requires pre-payment (such as for events, conferences, meetings, or emergency purchases). Changes to standard payment terms for a Hosted or Punchout catalog are not allowed and are not accepted by the supplier.
NOTE: All requisitions with Non-Standard Payment Terms will route to Purchasing for review and approval.
- Create a requisition in iBuy and proceed to checkout.
- On the Requisition-Summary tabs, click the Pencil Icon in the Billing Section.
- Select one of the following options from the Non-Standard Terms menu under Billing Options.
- 1% 10 Days net 30 (43)
- 2% 10 Days net 30 (46)
- 2% 15 Days net 30 (53)
- Net 0 (32)
- Pre-Paid (Internal Notes are Required) (34)
NOTE: Edit the Internal Notes and Attachments section and add details to justify selecting this option. - 0% 0, Net 7 (36)
- 0% 0, Net 15 (37)
- 0% 0, Net 10 (38)
- 0% 0, Net 20 (39)
- 0% 0, Net 25 (40)
- 0% 0, Net 60 (42)
- 1% 10, Net 30
- 0.5% 10, Net 30 (44)
- 2% 10, Net 10 (45)
- 2% 10, Net 30 (46)
- 2% 0, Net 30 (48)
- 3% 10, Net 30 (49)
- 25% 0, Net 15 (50)
- 0.25% 0, Net 15 (51)
- 0.3% 10, Net 30 (52)
- 2% 15, Net 30
- 1.5% 10, Net 30 (55)
- 0.5% 15, Net 30 (56)
- 1% 10, Net 20 (57)
- 1% 10, Net 45 (58)
- 1% 30, Net 31 (59)
- 1.5% 30, Net 90 (60)
- 2% 20, Net 30 (61)
- 2% 90, Net 91 (62)
- 1% 20, Net 30 (63)
- 2% 30, Net 31 (64)
- 1% 15, Net 30 (65)
- 0% 0, Net 45 (66)
- Click the Save Changes button.
- Complete and submit the requisition.