Industry standards on payment terms?

penelope · February 2nd, 2007, 11:01 AM

I'm working on an RFP and payment terms came up. On systems installed 5 years ago the payment terms were:

Is this still a standard for purchasing telecom systems? My SVP questioned whether payment of 60% is common before anything is installed?

ahays · February 2nd, 2007, 11:22 AM

Quote:

Originally Posted by penelope

Is this still a standard for purchasing telecom systems? My SVP questioned whether payment of 60% is common before anything is installed?

It's not out of line. Typically it's 50% upon equipment delivery and 50% upon cutover/acceptance.

regs,

.al.

February 2nd, 2007, 11:01 AM	#1 (permalink)
penelope PBXtech GOLD 100+ posts Join Date: May 2006 Posts: 179	Industry standards on payment terms? I'm working on an RFP and payment terms came up. On systems installed 5 years ago the payment terms were: 10% Upon Contract Award 50% Upon Equipment Delivery 30% Upon Final Installation and Cut Over 10% Upon Acceptance Is this still a standard for purchasing telecom systems? My SVP questioned whether payment of 60% is common before anything is installed? __________________ Penelope

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