Small Vendor Payment Options
Vanderbilt's standard payment terms were changed to Net 45 days in January 2009 and we must abide by those terms. We do however have some alternatives for suppliers that require shorter payment terms.
- Suppliers who accept credit cards can be paid on our One Card payment card vs. check request.
- Suppliers who offer early payment discounts of at least 1% will be evaluated for a shorter cycle.
Small businesses or diversity suppliers can become certified and we will designate them in our system as a diversity supplier. We will extend net 20 day terms to certified diversity suppliers upon request.
The diversity classifications are:
|Small Business||Minority Owned||8a|
|Small Disadvantaged Business||Women Owned||HUBZone Certified|
|Disabled Owned||Veteran Owned|
To be considered as a Small or Diversity Owned Business, the supplier should e-mail evidence of 3rd Party Certification to firstname.lastname@example.org. If they are requesting net 20 day terms that should be included in the e-mail as well.
Recognition by any of the following 3rd party organizations is acceptable in verifying small or diversity owned business status. Other 3rd Party certification should be reviewed on a case by case basis.
SBA Central Contractor Registration (CCR)
Third Street, SW
Washington, DC 20416
Small Business Administration (SBA)
409 Third Street, SW
Washington, DC 20416
National Minority Supplier Development Council (NMSDC)
1040 Avenue of the Americas, Second Floor
New York, NY 10018
Pan-Asian American Chamber of Commerce
1329 18th Street, NW
Washington DC 20036
National Women Business Owners Corporation (NWBOC)
1001 W. Jasmine Drive, Suite G
Lake Park, FL 33403
Association for Service Disabled Veterans
110 Maryland Ave., NE, Suite 100
Washington, DC 20002
Women's Business Enterprise National Council (WBENC)
1120 Connecticut Avenue, NW
Washington, DC 20036
Native American Business Alliance (NABA)
30700 Telegraph Road, Suite 3155
Bingham Farms, MI 48025
Fax No.: (615) 253-4813
Governor's Office of Diversity Business Enterprise
312 Rosa L. Parks Ave., 27th Floor – Wm. R.