The University is Conducting a Vendor Direct Deposit Recruitment Campaign
The University is making a concerted effort to move vendors to an electronic payment method in order to streamline processes and reduce costs. Direct deposit (ACH) is one of two electronic payment options that vendors can choose. The other is Single-Use Account (S激情快播), which makes use of a "single use" credit card number. To support this effort, there are a few changes to how and when 激情快播 pays vendors. For S激情快播 payments, 激情快播 will use "Net 15" terms. For direct deposit, payment terms remain at the current thirty days ("Net 30"). When a vendor elects to receive a paper check, we will use "Net 45."
On August 22nd, we started the first phase of our direct deposit recruitment communication. Mailers with program details and the direct deposit application were sent to all vendors that were paid with paper check in FY19. There has been an overwhelming positive response to the new electronic payment options. Hundreds of direct deposit applications were received last week and vendors have also been calling with questions.
You may receive phone calls from some of the vendors that you work with on a regular basis. We ask that you support the University鈥檚 efforts to move vendors to an electronic payment option in two ways: 1. When in direct contact with your vendors, encourage them to sign up for S激情快播 or direct deposit; and 2. Be aware of the payment terms your vendors selected when obtaining authorization to pay invoices. Your assistance will help this transition go both faster and smoother, and we appreciate it!
If you have questions, please contact Helen Conner (907-450-8062) or Alison Hayden (907-450-8060). Direct deposit applications can be FAXed to 907-450-8051 or mailed to PO Box 756580, Fairbanks, AK, 99775-6580. Please communicate to vendors that they should not email the direct deposit application because it contains sensitive information.