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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.




Keywords:Requesting Non-Standard Payment Terms in iBuy   Doc ID:120279
Owner:Erik O.Group:University of Illinois Training and Development Resources
Created:2022-08-05 09:59 CDTUpdated:2022-08-05 10:05 CDT
Sites:University of Illinois Training and Development Resources
CleanURL:https://answers.uillinois.edu/training/ibuy-requesting-non-standard-payment-terms-in-ibuy
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