Prompt Pay Discount Clause Samples
A Prompt Pay Discount clause establishes a financial incentive for buyers to pay their invoices within a specified, often shorter, time frame. Typically, this clause outlines the percentage discount available and the exact payment window required to qualify, such as a 2% reduction if payment is made within 10 days of the invoice date. Its core function is to encourage timely payments, improving the seller’s cash flow and reducing the risk of late payments.
Prompt Pay Discount. Any prompt pay discounts offered by respondents shall be extended to all authorized users of the contract.
Prompt Pay Discount. Distributor shall make prompt pay discounts available to Participant and its affiliates for * days payment, according to a progressive scale over the Term. Participant will be eligible to begin receiving a prompt pay discount January 1, 2013 at a rate of * of the then calculated rate, increasing to * in 2014, * in 2015, and * in 2016. To receive a prompt pay discount at * days Participant and all its affiliates must make payments via electronic funds transfer. Prompt pay discounts will not be made available to Participant or any of its affiliates if any past due balance exists. The prompt pay discount available for a calendar quarter shall be calculated on the first business day of such calendar quarter using a discount rate which is the greater of (i) * or (ii) *.
Prompt Pay Discount. Distributor shall make prompt pay discounts available to Participant and its affiliates for * days payment. To receive a prompt pay discount at * days Participant and all its affiliates must make payments via Automated Clearing House (“ACH”). Notwithstanding the foregoing, prompt pay discounts will not be made available to Participant or any of its affiliates for payments that meet such prompt pay criteria if any past due balance exists. The prompt pay discount for * days payment will be *.
Prompt Pay Discount. Distributor shall make prompt pay discounts available to Participant and its affiliates for * days payment, according to a progressive scale over the Term. Participant will be eligible to begin receiving a prompt pay discount January 1, 2013 at a rate of * of the then calculated rate, increasing to * in 2014, * in 2015, and * in 2016. * * * * To receive a prompt pay discount at * days Participant and all its affiliates must make payments via electronic funds transfer. Prompt pay discounts will not be made available to Participant or any of its affiliates if any past due balance exists. The prompt pay discount available for a calendar quarter shall be calculated on the first business day of such calendar quarter using (x) a discount rate which is the greater of (i) * or (ii) * (provided however that such discount rate shall not exceed *), multiplied by (y) *.