Manage Participation and Discount Rates for Early Pay Programs

Background

When creating Early Pay Programs, can classify to ensure they can opt-in to receive a Standard or Preferred discount rate in return for early invoice payments. Payment Admins can also exclude trade partners by classifying them as Ineligible. This is managed in the 'Early Pay Program Eligibility' column of the 'Beneficiaries' tab in the Company level Payments tool.

Things to Consider

  • Required User Permissions

  • Additional Information:

    • The options in the 'Early Pay Program Eligibility' drop-down list cannot be customized.

    • You can assign one (1) 'Early Pay Program Eligibility' classification to a trade partner. The classification status is applied to the trade partner to all Early Pay Programs.

Steps

  1. Navigate to the Company level Payments tool.

  2. Click the Beneficiaries tab.

  3. Locate the trade partner by the name in the Beneficiary Name column.

  4. Select one of the classifications from the Early Pay Program Eligibility drop-down list.

    Beneficiaries Epp Eligibility

Default Early Pay Program Eligibility

This table details the default classifications that can be applied to trade partners to define their eligibility for discount rates.

Early Pay Program Eligibility

Description

Example

Eligible - Standard Fee

The trade partner's early invoice payments are made in exchange for a standard discount rate.

A general contractor creates an Early Pay Program that offers early invoice payment in exchange for a 2% discount rate.

Eligible - Preferred Fee

The trade partner's early invoice payments are made in exchange for a preferred discount rate.

A general contractor creates an Early Pay Program that offers early invoice payment in exchange for a 0% discount rate.

Ineligible

The trade partner is not eligible for participation in an Early Pay Program. If you choose this option, the system unenrolls the beneficiary from all Early Pay Programs. In addition, beneficiaries no longer see an option to enroll in Early Pay.

A general contractor might exclude a trade partner because it's the first time they've worked with the general contractor or the trade partner has a history of work, performance, or payment issues.

Edit Early Pay Programs
Manage Early Pay Programs in the Payments Tool