DISCOUNTS FOR PROMPT PAYMENT Sample Clauses

DISCOUNTS FOR PROMPT PAYMENT a. Discounts for prompt payment will not be considered in the evaluation of offers. However, any offered discount will form a part of the award, and will be taken if payment is made within the discount period indicated in the offer by the offeror. As an alternative to offering a prompt payment discount in conjunction with the offer, offerors awarded contracts may include prompt payment discounts on individual invoices. b. In connection with any discount offered for prompt payment, time shall be computed from the date of the invoice. If the Contractor has not placed a date on the invoice, the due date shall be calculated from the date the designated billing office receives a proper invoice, provided the agency annotates such invoice with the date of receipt at the time of receipt. For the purpose of computing the discount earned, payment shall be considered to have been made on the date that appears on the payment check or, for an electronic funds transfer, the specified payment date. When the discount date falls on a Saturday, Sunday, or legal holiday when Federal NAFI offices are closed and NAFI business is not expected to be conducted, payment may be made on the following business day.
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DISCOUNTS FOR PROMPT PAYMENT. In connection with any prompt payment discount offered, time will be computed from the date of the Contractor’s invoice. Payment is deemed to have been made as of the date on the payment check or date on which electronic funds transfer is made.
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DISCOUNTS FOR PROMPT PAYMENT a. Discounts for prompt payment will not be considered in the evaluation of bids. However, any offered discount will form a part of the award and will be taken if payment is made within the discount period indicated by the bidder in "Section 2" of the attached proposed contract. b. If a prompt payment discount is offered, the discount period shall be computed from the date of the invoice. If the Contractor has not placed a date on the invoice, the discount period shall be calculated from the date the Accounts Payable Office receives a proper invoice, provided the Accounts Payable Office annotates such invoice with the date of receipt. For the purpose of computing the discount earned, payment shall be considered to have been made on the date that appears on the payment check or, for an electronic funds transfer, if authorized, the specified payment date. When the discount period ends on a Saturday, Sunday, or City observed holiday, such period shall be deemed extended until the following business day.
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DISCOUNTS FOR PROMPT PAYMENT. In connection with any prompt payment discount offered, time will be computed from the date of the Contractor’s invoice. Payment is deemed to have been made as of the date on the payment check.
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Related to DISCOUNTS FOR PROMPT PAYMENT

  • PROMPT PAYMENTS a. State Agencies Upon acceptance of Product or as otherwise provided by Contract, Contractor may invoice for payment. The required payment date shall be thirty (30) calendar days, excluding legal holidays, from the receipt of a proper invoice, as determined in accordance with State Finance Law

  • Prompt Payment Payment shall be made in accordance with Chapter 2251 of the Texas Government Code, commonly known as the Texas Prompt Payment Act. Chapter 2251 of the Texas Government Code shall govern remittance of payment and remedies for late payment and non-payment.

  • Discounts, Rebates and Refunds § 8.1 Cash discounts obtained on payments made by the Construction Manager shall accrue to the Owner if (1) before making the payment, the Construction Manager included the amount to be paid, less such discount, in an Application for Payment and received payment from the Owner, or (2) the Owner has deposited funds with the Construction Manager with which to make payments; otherwise, cash discounts shall accrue to the Construction Manager. Trade discounts, rebates, refunds, and amounts received from sales of surplus materials and equipment shall accrue to the Owner, and the Construction Manager shall make provisions so that they can be obtained. § 8.2 Amounts that accrue to the Owner in accordance with the provisions of Section 8.1 shall be credited to the Owner as a deduction from the Cost of the Work.