Prompt Payment of Invoices
The Cooperative
Contracts Program was established by the Texas Legislature as a
means of providing low-cost, competitively-priced hardware and
software products and related services to
public entities throughout the state of
Texas. This program allows DIR to pass on
considerable cost savings
to a wide variety of entities who otherwise would not be able to
achieve these savings. The Cooperative Contracts Program
operates solely on a cost recovery basis. The program is entirely
self-sustaining and depends on the timely payment of invoices
generated through sales. The program receives no additional
operating funds from the Texas Legislature. In order to maintain
the discounts offered by hardware and software vendors through the
Cooperative Contracts Program, DIR must pay these vendors on a
timely basis. Since there are no reserve funds available to the
program for this purpose, DIR must rely on the prompt payment of
customer invoices to achieve this goal.
Terms: The terms of your account with the
Cooperative Contracts Program are net 30 days from your invoice
date. It is DIR’s expectation that all entities for which it
provides products and services will pay for them within this time
period.
Credit Policy and Past Due Accounts: The
Cooperative Contracts Program requires an institutional purchase
order with each order placed through the program. The submission of
your purchase order signifies the acceptance of DIR terms for this
purchase and the commitment of funds by your agency. DIR invoices
the customer upon delivery of the product(s) or service(s). Payment
is due within 30 days of the customer invoice by interagency
transfer of funds or by check made payable to DIR. Any
account with invoices in arrears that have not been reported to DIR
as disputed items will be subject to credit hold. Credit hold will
stop shipment on any new orders until the account is brought back
to a current status. Any account placed on credit hold more
than once in any fiscal year is subject to having its credit
privileges revoked. Accounts remaining past due are subject to
escalation to the Office of the Comptroller of Public Accounts or
the Office of the Attorney General for collection.
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