Jasper Abeyta, of Data Communication Solutions Inc., writes:
Does anyone have experience with an invoice that offers split
terms - 50% due 8/25/00, 50% due 9/30/00? I have a customer
who is offering those terms, and I'm not sure how to code the
ITD segment. It's got to be either with the deferred due date
and deferred amount due (ITD09 and ITD10), or with the Percent
of invoice payable (ITD11). My inclination is to send two ITD
segments - one with a net due date of 8/25/00 and a percent of
invoice payable of 50%. The second ITD would be due 9/30 with
percent payable 50%.
My biggest concern is that the industry is generally doing it
one way, and I'll pick another that means something else.
Anyone seen this before?
Dear Jasper:
Go with your first inclination, that of using a tiered term giving the
two due dates:
ITD*04********20000825**50~
ITD*04********20000930**50~
You know, I can't say I've ever seen this done before. But I think most
people (Ooops - make that most "EDI dweebs") would properly interpret
the two ITD segments as saying Deferred or Installment Terms (ITD01)
with 50% of the Invoice Payable (ITD11) on each of the specified
deferred due dates of 8/25/00 and 9/30 (ITD09).
So we know we can come up with something which on first glance is an
unambiguous set of payment terms. But make darn sure your client isn't
offering such lenient terms to one of those here-today, gone-tomorrow
dot com outfits who spent all their IPO money on Super Bowl ads; in
these cases, you'll want your money upfront (i.e., payment preceding the
ship notice).
William J. Kammerer
FORESIGHT Corp.
4950 Blazer Memorial Pkwy.
Dublin, OH USA 43017-3305
+1 614 791-1600
Visit FORESIGHT Corp. at http://www.foresightcorp.com/
"Commerce for a New World"
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