Starting in 2019, the University of California at Davis has established a new set of preferred payment methods and terms for our suppliers.
Our goal is to minimize payments made by paper checks and maximize payments made through credit card and other secure electronic methods. As a valued supplier of goods and services to the University, we ask that you select one of the following terms to receive timely and accurate payment against your future invoices. Suppliers who do not select a term will default to NET 60, paper check.
- Credit card payment through US Bank’s Payment Plus program (Preferred)
- NET terms – the UC will disburse payment immediately upon invoice approval
- ACH/EFT payment with 2/10 NET 30 terms
- The UC will disburse payment electronically within 10 days of invoice receipt, less a 2% discount; If not paid within 10 days, the UC will disburse full payment within 30 days of invoice receipt
- ACH/EFT payment with NET 45 terms
- The UC will disburse payment electronically within 45 days of the invoice receipt
- Paper check with NET 60 terms
- The UC will disburse payment within 60 days of the invoice receipt
Payment Plus is a virtual credit card program. The supplier receives emailed remittance information upon approval of their invoice, which includes instructions to retrieve a one-time Visa credit card number. The card can then be used by the supplier to receive immediate funds to clear the amount due.
ACH, or EFT, is an electronic bank transfer to the supplier’s account. Remittance information is emailed to the supplier when payment is made, including the invoice # and check-stub notes. Funds are typically available within 24-48 hours after transfer is complete.