Prompt Payment Incentive definition

Prompt Payment Incentive. Rebate or Incentive earned by a Purchasing Entity based on their average speed of pay/file turn days. Purchase Card (P-Card): Charge card (payment method) used for business purchases of goods and services.
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Prompt Payment Incentive. Rebate or Incentive earned by a Purchasing Entity based on their average speed of pay/file turn days.
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Examples of Prompt Payment Incentive in a sentence

  • Prompt Payment Incentive: Rebate or Incentive earned by a Purchasing Entity based on their average speed of pay/file turn days.

  • The report shall provide the calculated Prompt Payment (Incentive) by User Agency for the MSA year.

  • The formula for calculating the Prompt Payment Incentive is: Quarterly Total Volume x Basis Points for Entity average file turn days = Quarterly Prompt Payment Incentive.

  • The Prompt Payment Incentive is based solely on the Client Held Days Payment Performance for each Entity for the Agreement Quarter (3 calendar months).

  • The formula to determine the Speed of Pay/Prompt Payment Incentive is: (45 – Client Held Days) / 45 x 0.0045 x Quarterly Sales Volume) = Entity Quarterly Prompt Payment Incentive.

  • All Amazon volume shall be multiplied by the applicable quarterly period’s average Client-held Days based upon the speed of pay set forth below for purposes of determining the Prompt Payment Incentive for such Amazon spend (which basis point figures are 19% less than the current basis point figures for all other non-Amazon sales volume).