Prompt Pay Discounts definition

Prompt Pay Discounts. A discount given to the buyer if paid within a certain time period. These discounts may be found in the Vendor List and Information section below. All discounts offered will be taken in cases where the payment issue date is within the specified number of days listed by vendor and in accordance with the Commonwealth’s Bill Paying Policy. Payment days will be measured from the date goods are received and accepted / performance was completed OR the date an invoice is received by the Commonwealth, whichever is later to the date the payment is issued as an EFT (preferred method) or mailed by the State Treasurer. The date of payment “issue” is the date a payment is considered “paid” not the date a payment is “received” by a Contractor.
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Prompt Pay Discounts. A discount given to the buyer if paid within a certain time period. These discounts may be found in the Vendor List and Information section below. All discounts offered will be taken in cases where the payment issue date is within the specified number of days listed by vendor and in accordance with the Commonwealth’s Bill Paying Policy. Payment days will be measured from the date goods are received and accepted / performance was completed OR the date an invoice is received by the Commonwealth, whichever is later to the date the payment is issued as an EFT (preferred method) or mailed by the State Treasurer. The date of payment “issue” is the date a payment is considered “paid” not the date a payment is “received” by a Vendor. If a product cannot be found in the vendor’s price sheet, it is recommended to contact the vendor directly to inquire if it is available for purchase on this contract. If the product or service is within the scope of this contract, the vendor may be able to add it to their offering, subject to the approval of the OSD contract manager. Statements of Work (SOW) and any additional documents specific to the purchase should reference Statewide Contract FAC1226. The SOW accepted by the buyer and vendor should be referenced in and attached to the resulting purchase order.
Sample 1
Prompt Pay Discounts. A discount given to the buyer if paid within a certain time period. These discounts may be found in the Vendor List and Information section below. All discounts offered will be taken in cases where the payment issue date is within the specified number of days listed by vendor and in accordance with the Commonwealth’s Bill Paying Policy. Payment days will be measured from the date goods are received and accepted / performance was completed OR the date an invoice is received by the Commonwealth, whichever is later to the date the payment is issued as an EFT (preferred method) or mailed by the State Treasurer. The date of payment “issue” is the date a payment is considered “paid” not the date a payment is “received” by a Contractor. MMARSusers must reference the MA number in the proper field in MMARS when placing orders with any contractor.
Sample 1

Examples of Prompt Pay Discounts in a sentence

  • See Prompt Pay Discounts Policy.) BRIEF DESCRIPTION OF CONTRACT PERFORMANCE or REASON FOR AMENDMENT: (Enter the Contract title, purpose, fiscal year(s) and a detailed description of the scope of performance or what is being amended for a Contract Amendment.

  • If the patient is not eligible for Full or Partial Charity Care, the Uninsured Patient Discount and Prompt Pay Discounts apply.

  • Prompt Pay Discounts: Discounts for prompt payment are estimated at the time of sale, based on our eligible customers’ prompt payment history and the contractual discount percentage.

  • See Prompt Pay Discounts Policy.) ANTICIPATED START DATE: (Complete ONE option only) The Department and Contractor certify for this Contract, or Contract Amendment, that Contract obligations: 1.

  • If Prompt Pay Discounts are set forth in the Parent Agreement, the time period for payment will commence on either (i) the date goods are received and accepted or performance was completed OR (ii) the date an invoice is received by the Purchasing Entity, whichever is later.

  • Contractor has agreed to the following Prompt Pay Discounts for the listed Payment Issue Dates.

  • For periods starting after June 30, 2012, the Buyer will be exclusively responsible for reporting and certifying all necessary monthly and quarterly AMP calculations and Customer Prompt Pay Discounts in accordance with Federal law.

  • Without limitation of the foregoing, all Prompt Pay Discounts and any other information that must be disclosed under applicable law, shall be disclosed to the Centers for Medicare and Medicaid Services (“CMS”) in accordance with: (1) CMS guidance (as it may be revised from time to time); (2) any contractual obligations with third parties; and (3) any other disclosure or reporting obligations or requirements imposed by federal or state laws, regulations, or guidance.

  • This data includes a Record ID, Labeler Code, Product Code, Package Size, Period Covered (Quarter/Year), the Average Manufacturer Price (AMP), the Best Price, Nominal Price and Customary Prompt Pay Discounts.

  • After the Closing Date, the Seller (i) will provide the Buyer access to the Center for Medicare and Medicaid Services(“CMS”) “Drug Data Reporting for Medicaid” database for the Product and (ii) for periods through June 30, 2012 the Seller will be exclusively responsible for reporting and certifying all necessary monthly and quarterly Average Manufacturer Price (“AMP”) calculations and Customer Prompt Pay Discounts in accordance with Federal law.


More Definitions of Prompt Pay Discounts

Prompt Pay Discounts means discounts taken, usually on patient residual balances, in accordance with Eligible Recipient policies.
Sample 1
Prompt Pay Discounts. A discount given to the buyer if paid within a certain time period. These discounts may be found in the Vendor List and Information section below. All discounts offered will be taken in cases where the payment issue date is within the specified number of days listed by vendor and in accordance with the Commonwealth’s Bill Paying Policy. Payment days will be measured from the date goods are received and accepted / performance was completed OR the date an invoice is received by the Commonwealth, whichever is later to the date the payment is issued as an EFT (preferred method) or mailed by the State Treasurer. The date of payment “issue” is the date a payment is considered “paid” not the date a payment is “received” by a Contractor. • Volume Discounts: Additional volume discount or options may be negotiated directly with the vendor. • Dock Delivery Discount: discount may be provided if product is delivered directly to the loading dock, check with the vendor and/or distributor.
Sample 1

Related to Prompt Pay Discounts

  • Age-based discount means a discount offered on selected hospital policies for persons and/or their partners aged between 18 and 29. The discount is two per cent for each year that the person is aged under 30, to a maximum of 10 per cent. Providing the person remains on an applicable hospital cover, they are entitled to the discount until they turn 41 at which time the discount will decrease at the rate of two per cent per year for up to five years, so that no age-based discounts are available after the age of 45.

  • Discount Factor means the percentage discount applied to additional APCs when more than one APC is provided during the same visit (including the same APC provided more than once). Not all APCs are subject to a discount factor.

  • Resale Discount means the applicable discount off retail rates applied to AT&T-21STATE Telecommunications Services resold by CLEC to its End Users. Any change to the rates, terms and conditions of any applicable retail Tariff is automatically incorporated herein and is effective hereunder on the date any such change is effective.

  • Merchant discount means the fee or negotiated discount charged to a merchant by the financial institution for the privilege of participating in a program whereby a credit card is accepted in payment for merchandise or services sold to the credit card holder.

  • Discounted present value means the present value of future payments determined by discounting the payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the internal revenue service.

  • Amount Payable means, at any time, all amounts payable by the Customer to Reliance at that time (whether or not those amounts have become due for payment) in connection with the Contract (including, without limitation, any invoiced amount, interest, fees, costs or expenses);