Effective immediately, the Urbana-Champaign campus will no longer be able to process non-net 30 payment terms under $10k in iBuy.  Moving forward, if a non-net 30 payment is needed for orders under $10k in iBuy, please route the requisition to Purchasing. 

We have found the non-net 30 under $10k process is causing delays in the issuance of purchase orders.  By routing the non-standard payment requisitions to Purchasing, this will eliminate the extra steps of recreating requisitions if they are rejected.  If routed to the Purchasing Office, and an issue arises from a non-standard payment request, buyers will have the ability to return the requisition rather than having it cancelled, which will save time in the purchase order process.  Please note that in order to route non-standard payment requisitions to Purchasing, the requestor will need to indicate “yes” for the terms and conditions question on the PR form. 

Net-30 is best practice and the standard for the Urbana-Champaign campus.  Unless there is a benefit to the University for accepting terms other than net-30 (For example, 2% net 10), the terms may be rejected.