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Accounts Receivable Policies
Accounts Receivable
- All invoices are payable on the 10th of the month, in accordance with the dealer's Acceptance of Terms for each product line program.
- Payments received after the 10th are subject to a loss of discounts and a finance charge for the number of days past due.
- Floor plan is due under the guidelines of the product plan number or when sold - whichever comes first.
- Dealer agrees to pay on the 10th of the month for all units sold prior to the due date(s).
- Statement cut-off is the 25th of the month; finance charges are calculated from the 10th of the month on past due invoices.
- If the 25th falls on a Saturday or Sunday, the cut-off will be the Friday before.
- If the 25th falls on a holiday, the cut-off will be the last working day scheduled by OED.
- Invoices for $100 or less for merchandise that qualifies for installment payments are subject to be billed with a single due date.
- Available discounts and/or allowances may be utilized if your payment is received at OED by the 10th of the month.
- Credit memos should be utilized within the current statement cycle.
Online Bill Pay
- Payments may be made anytime on our website.
- Online Bill Pay is a real time balance of your account and is available 24/7.
- It is the quickest and most cost-effective way to manage your account.
- You have two options for payment:
- Credit card payments incur a 3% convenience fee.
- E-Check payments incur no fee.
Past Due Accounts
- Past due accounts do not qualify for free freight and orders are subject to being held until payment is made.
- 30 days past due:
- Dealer will be notified that their account is past due.
- The past due amount will start accruing interest at this point.
- No Prepaid Freight will be honored until the account is current.
- 60 days past due:
- Dealer's account will be placed on a DO NOT SHIP status.
- The account needs to be made current to resume shipments.
- 90 days past due:
- Dealer will be locked out of the system and instructed to contact their Territory Manager.
- No orders can be entered or shipped until the account is current.