Standard Payment Terms
All suppliers will be paid 60 calendar days after an invoice is received in the IntelliBUY Supplier Portal. Any accelerated payment term must be evidenced in a contract using an approved alternative (listed below). Non-standard payment terms in existing contracts expiring at a future date will be honored and revisited during any subsequent renewals or amendments.
Alternatives: Accelerated Payment Terms
Northeastern offers suppliers two options for expedited payment within 10 calendar days of receiving an invoice in the IntelliBUY Supplier Portal.
- Option 1: Invoice Discount
- A 2% discount is applied to the invoice if paid within 10 calendar days of invoice receipt. If after 10 days, the invoice will be paid within 45 calendar days of invoice receipt.
- A 2% discount is applied to the invoice if paid within 10 calendar days of invoice receipt. If after 10 days, the invoice will be paid within 45 calendar days of invoice receipt.
- Option 2: Virtual Credit Card
- If a supplier elects to be paid with a virtual credit card, payment will be made within 10 calendar days of invoice receipt.
If you have questions about your payment terms or how they apply to your contract, please contact: SupplierManagement@northeastern.edu.
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