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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.

  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 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)
  4. Click the Save Changes button.
  5. Complete and submit the requisition.


Keywords:
purchasing, procurement, pre-pay, pre-payment, PO terms 
Doc ID:
120279
Owned by:
AITS iBuy Support in UI Training and Development Resources
Created:
2022-08-05
Updated:
2025-02-25
Sites:
University of Illinois Training and Development Resources