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Rebates (Incentives) to Agencies
For the purpose of earning and receiving rebates, Participating Agencies will continue to receive the rebate structure included in the previous contract (# 5-00-CC-02) until December 31, 2006. Rebates as described in this contract (# 5-06-99-01) will begin January 1, 2007, paid by the 50th calendar day from the end of the quarter.
1. Average Transaction Rebate
The following formula will be used to determine the Average Transaction Incentive for each participating agency:
Total Sales (Quarterly) x 0.75 = Average Transaction Rebate
# of Transactions (Quarterly)
Distribution of the Quarterly Average Transaction Rebate shall include the following condition:
Computed Quarterly Average Transaction Rebate to the Participating Agency shall not exceed 2% of the Participating Agency's Quarterly Total Spend. Amount in excess of 2% of the Participating Agency's Quarterly Total Spend shall be forwarded to the Department of General Services under the heading of Administrative Fee - Excess Quarterly Average Transaction Rebate.
2. Volume Sales Rebate
The following formula will be used to determine the Volume Sale Incentive for each participating agency:
Total Sales (each individual participating agency) x .00393 = Volume Sales Rebate
3. Prompt Payment Rebate
The following formula will be used to determine the Prompt Payment Incentive for each participating agency:
45 Days - # of days to pay (date of ACH or check) x 0.0045 x invoice amount = Prompt Payment Rebate
45 Days (maximum # of days)
Questions Regarding Rebates? Contact: calcard@usbank.com
4th Quarter Rebates Paid to Agencies & Adjustmenst Rebates less than $75.00 accrue until they reach $75.00.
1st Quarter Rebates 2008 |
