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2. Quarterly Billings that are greater than $10,000 but not more than $200,000 per 12- <br />month period, shall be billed in quarterly installments. Quarterly invoices will be <br />issued representing the contract amount for each 12-month period of the contract, or <br />portions thereof, prorated into four (4) installments. Invoices shall be issued no later <br />than 30 days after the beginning of each quarter. Payment due date shall be 60 days <br />after the beginning of each calendar quarter. <br />3. Monthly Billings that are greater than $200,000 per 12-month period shall be billed in <br />monthly installments. Monthly invoices will be issued representing the contract <br />amount for each 12-month period of the contract, or portions thereof, prorated into 12 <br />installments. Invoices shall be issued on or before the first day of each service <br />month. Payment due date shall be 30 days after the beginning of each service <br />month. <br />An example of a fixed price contract for ongoing, recurring provision of materials and/or <br />services might be a city contracting with the Sheriff for law enforcement services. <br />IV. ACTUAL COST CONTRACTS <br />A. Actual Cost (One-Time/Non-Recurring Contracts) - Invoices that represent a billing for a <br />one-time, non -recurring provision of materials and/or services shall be issued after <br />delivery by the County of the materials and/or services and no later than 15 days after <br />actual cost data is available. Payment due date shall be invoice date plus 30 days. <br />B. Actual Cost (Ongoing/Recurring Contracts) - Invoices that represent a billing for an <br />ongoing, recurring provision of materials and/or services shall be issued on a monthly <br />basis and shall represent the cost of materials and/or services provided to the <br />contracting entity during the previous calendar month. Such invoices shall be issued no <br />later than 15 days after the close of the monthly billing period. If the County <br />agency/department/district does not utilize a monthly billing cycle, the invoice shall be <br />issued no later than 15 days after actual cost data is available. Payment due date shall <br />be invoice date plus 30 days. <br />Examples of actual cost contracts for the ongoing, recurring provision of materials and/or <br />services might be a city contracting with the County for communications equipment <br />repair or waste disposal at a County landfill. <br />V. PAYMENT DUE DATES <br />Notwithstanding the provisions of Sections II and III above, payment due date shall be at <br />least invoice date plus 30 days. If the County is late in issuing an invoice, the contracting <br />entity would always have at least invoice date plus 30 days to pay. If the County is early in <br />issuing an invoice, the contracting entity would still have a payment due date of either 60 <br />days after the beginning of the quarter (quarterly invoices) or 30 days after the beginning of <br />the service month (monthly invoices). <br />(EXAMPLES: An invoice for October service, dated and issued October 8 (late) would have <br />a payment due date of November 7. An invoice for August service, dated and issued July 20 <br />(early) would have a payment due date of August 30.) <br />Page 2 of 4 <br />