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iBuy – Requesting Non-Standard Payment Terms in iBuy

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.

  1. Create a requisition in iBuy and proceed to checkout.
  2. On the Requisition-Summary tabs, click the Pencil Icon in the Billing Section.
  3. Select one of the five options from the Non-Standard Terms menu under Billing Options.
    • 1% 10 Days net 30
    • 2% 10 Days net 30
    • 2% 15 Days net 30
    • Net
    • Pre-Paid (Internal Notes are Required)
      NOTE: Edit the Internal Notes and Attachments section and add details to justify selecting this option
  4. Click the Save Changes button.
  5. Complete and submit the requisition.

Keywordspurchasing, procurement   Doc ID120279
OwnerLearning Systems SupportGroupUI Training and Development Resources
Created2022-08-05 09:59:21Updated2024-05-07 10:06:19
SitesUniversity of Illinois Training and Development Resources
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