Prompt Invoice Submission
In current economic circumstances, more and more commercial vendors are taking a hard stance with regard to their receivables. Even large companies that have been tolerant of aged receivables for many years are now threatening to put colleges on credit hold until aged invoices are completely resolved. For colleges that have a number of different labs supplied by the same vendor, and where the same supplier must be used for repeat orders to assure consistency of quality, a credit hold can have serious consequences to on-going projects and operations. As some of you know, scrambling to arrange for expedited payment of long-outstanding invoices to relieve a credit hold situation creates considerable additional burden for all concerned.
We would, therefore, appreciate your taking any opportunities available to you to alert PI’s and project staff of the need to submit all invoices in a timely fashion. Thank you for your efforts in this regard.
Daniel Carrier Manager, Procurement and Payables (T) 212-417-8480 (F) 212-417-6480
