M/Ycat Invoice Payments:
- A WMA "contract" agreement is signed for each "promotional catalog" (two per
year... Mcat & Ycat) - A contract invoice requirement is that payment is "due upon receipt" with a 30 day
payment deadline from the date the invoice is emailed. - We have a positive incentive reward program, Mfg. Performance Rebate (VPR),
which offers a significant rebate for stellar performance. - A major requirement VPR aspect is timely payment of Invoices.
- Starting one day after an invoice is past the deadline, vendors lose their next
catalog VPR at the rate of 1/15th per day over the next 15 days. - Thus, if payment is 15 days past the deadline... the rebate on the next promotional
catalog billings (Mcat or Ycat) is lost. - Finally, at 30 days past the deadline a WMA member deducts from an open
invoice that they have with you at 150% of face value (per our contract).
Timing...
Our situation and position is that we are a very little company and the graphic & layout
design company we work with starts production on M/Ycat at least four months before it
goes to press. When they bill us at the completion of their production phase they must be
paid within 30 days and rightfully so. In addition, the M/Ycat publisher insists, again
rightly so, that we pay them within 30 days of when the catalogs are shipped. These
facts, plus our own expenses, leave us little choice but to seek payment per our contract
agreement. That is why we established our positive incentive rebate program and why
those who do not comply don't receive the VPR reward.
Please, if you have any questions or comments, we would like to hear from you!
