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Overview Effective May 1, 2015, Tufts University uses payment terms "Net  45 from date of the Invoice" OR "Net 10 Days upon Receipt of Invoice by Accounts Payable" if a supplier participates in the Single Use Account (SUA) program.  Note: If an invoice is based on a Purchase Order generated prior to 5/1/15, the payment terms are "Net 30 days from the Date on the Invoice."  The SUA program is in partnership with J.P Morgan, and suppliers must elect to participate in this electronic credit card payment solution. Should you have a question concerning the payment date of a particular invoice, or if a supplier needs to be paid sooner, Contact TSS. (Purchasing).   Policy Details Discounts Accounts Payable will make every effort to process invoices in a timely manner to take advantage of beneficial discount terms. Keep in mind that not all discounts offered by suppliers for faster payment are advantageous to the university. The Purchasing Office in conjunction with Treasury Operations are responsible for determining when such supplier discounts are beneficial and recommends when they should be taken. Pre-Payments/Deposits Generally, the university issues payments upon completion of the service or delivery of the product. Requests by suppliers for pre-payments or deposits can only be approved by the Purchasing Department who will ensure that the pre-payment terms are beneficial to the university and that proper controls have been established to protect Tufts interests. Grant Payments In accordance with federal regulations, payments to vendors when an invoice charges a grant will remain terms of Net 30. SUA Vendors

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