Common use of Payments Processing Clause in Contracts

Payments Processing. 7.1. Ordering system shall accept purchasing card (Mastercard P-card) for payment. 7.1.1. Mastercard P-card numbers shall not be stored or saved to the ordering site. 7.2. Original invoices with a zero balance shall be sent to the ordering department when the item has been shipped. 7.3. Maximum purchases shall not exceed $5,000 threshold or as stipulated in the most current Lake County Purchasing Policy. 7.3.1. Contracting Officer shall be notified for approval for any purchases above the maximum purchase threshold. 7.4. Invoices shall provide name of individual ordering and receipt of order must be signed. 7.5. Invoices and credit memos shall be available by e-mail and on request. 7.6. Credit memos shall show original invoice number for cross-reference purposes. 7.7. Past due notices on all charges and credits shall be e-mailed to the Contracting Officer.