What is the Global Payment Term Optimization initiative and how do I benefit?
We are launching a global initiative to ensure our systems, processes, and payment terms are optimized to offer these benefits to suppliers:
Increased payment predictability
Standard payment terms that allows for added transparency and on-time payments
More consistency in payment schedules, enabling better management of cashflow
Are all suppliers subject to Cargill’s new payment terms?
Yes! Our new global payment terms policy is effective across all of our suppliers globally. Our global initiative will help to ensure our systems, processes, and payment terms are optimized to ensure our vendors are given more payment transparency and paid on-time globally.
Are finance options available?
Unfortunately, at this time, we do not have financing options available. However, we are working towards offering a financing option in the near future and can follow up as details become more clear. In the meantime, you can reach out to your Cargill Buyer to understand other payment term options.
Other than financing, what other options are available?
Please reach out to your Cargill Buyer to discuss earlier payment term options with discounts.
Who can I contact to discuss this payment term change further?
Please email us at [email protected] to raise any concerns you may have.
Do I follow the same process for remitting invoices?
Yes, your current invoicing process and remit to address are NOT changing as a result of this initiative.
How can I determine when my company will get paid?
You can determine your payment date by adding the number of days in your payment terms to the Invoice Receipt Date, which is the date Cargill scans the invoice into our system. For example, if the Invoice Receipt Date is January 6, 2020 (the date the invoice was scanned into our system) and the payment terms specified in your contract is 90 days, the payment date for this invoice will be April 5, 2020.
What is the Invoice Receipt Date, and how is it different from the Invoice Date?
The Invoice Receipt Date is the date when Cargill Accounts Payable receives and scans the invoice into our system the invoice. The Invoice Receipt Date is not the date you prepared the invoice or the date on the invoice. Your payment terms will start from the Invoice Receipt Date.
How do I know the date of the Invoice Receipt Date?
If your invoice meets all of the invoice submission requirements (including submitting it to the correct location via email), the Invoice Receipt Date will usually be within one business day of its arrival at Cargill Accounts Payable. If anything is missing or if you submit the invoice to the plant or some other incorrect location, the Invoice Receipt Date will be delayed and will correspondingly delay your payment.
How can I avoid delayed payments?
Be sure to follow the invoice submission instructions available on the Supplier Central site.
Are there any exceptions to submitting invoices to this location?
Yes. If you are in the Ariba system or using ERS, there is no change to your invoice submission location.
If I need to re-submit an invoice, will the payment terms calculate from Receipt of Original invoice or Receipt of Revised invoice?
If you need to re-submit an invoice to correct an error or provide missing information, the date Accounts Payable receives the re-submitted invoice is new Invoice Receipt Date from which the payment date is calculated.
How does Cargill calculate the payment date if I submit an invoice to my contact at the plant?
If you submit the invoice to a contact at your plant, your invoice will be returned to you with instructions to re-submit to the central invoice processing location The day the invoice processing team receives the invoice is the Invoice Receipt Date.
Who do I contact if my payment is more than 10 days past due or have a question regarding pending payments?
If your payment is more than 10 days late, please follow the instructions on the Supplier Queries tab of the Invoicing page to contact the supplier relations team, so that we can follow up with you. We appreciate your patience as we follow up on your inquiry.
How does my company benefit from this change?
Because payments will be paid according to a consistent process, it will enable a more predictable cash flow for our suppliers.
What if I have questions about how the Invoice Receipt Date was determined for an invoice or how the payment date was calculated?
Contact our team.
Why is Cargill using the Invoice Receipt Date for determining my payment due date?
Using the Invoice Receipt Date when calculating the payment due date has always been standard language in our contracts. Our systems and processes are now aligned with this language to use the Invoice Receipt Date field in the determining the payment due date.