ScrapConnect: DJJ FastPay

FastPay Automatic

ALL shipments are paid the day after settlement weights are received; NO supplier intervention is required. DJJ will only pay early for a shipment IF we have received final settlement weights and the price is final.
The discount is based on how many days prior to the Net 45 day due date the shipment is paid.
After signup, FastPay Automatic will go into effect with future contracts.

ALL shipments will be paid 30 days from shipment date, less a fixed 0.75% discount, IF we have received final settlement weights and the price is final.
If settlement weights are NOT received by day 30 or the purchase price is not final, payment will revert to our standard Net 45 day payment term.
After signup, FastPay 30 will go into effect with future contracts.

The supplier has the ability to select the shipment(s) on www.ScrapConnect.net to be paid early.
DJJ will initiate payment daily for any shipments selected the previous day up through the cutoff time of 9:00 am Eastern Time.
The discount is based on how many days prior to the Net 45 day due date the shipment is paid.
DJJ will only pay early for a shipment IF we have received final settlement weights and the price is final.
Accounts will be reviewed annually for activity.

DJJ has TWO options for our barge suppliers that would like to be paid outside of our standard Net 45 day payment term.

Option 1 – 80% advance 6 days from ship date with a 2.75% discount. The remaining balance on the barge will be settled 45 days from ship date (if settlement weights are received).
Option 2 – 80% advance 15 days from ship date with a 1.75% discount. The remaining balance on the barge will be settled 45 days from ship date (if settlement weights are received).