Administration Manual - B.E.S.T. Undertaking.

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payments mean payments being made for goods supplied or work done
on credit basis.
3.7.4 The Contractor submits his invoice for goods supplied only on receipt
of his copies of the Stores Receipt Note. Invoices submitted must be
for exact quantities as per rates and description shown on the
Purchase Order and the Stores Received Note.
3.7.5 Normally, invoices are settled within thirty days from date of their
receipt in the Stores Department. Cash Discount for early settlement
of payment is accepted only if the amount is not less than Rs.200/-.
The period within which invoices are to be paid in order to avail of the
cash discount is reckoned from the date of receipt of the bill
accompanied by the Stores Receipt Note. The minimum period within
which discount bills are to be paid is 15 days.
3.7.6 Payment Voucher is prepared by the Stores Bills Section with the
supplier’s invoice, Stores Received Note and the payment copy of
Purchase Order attached thereto after the invoice has been entered in
the Bill Register. It indicates name of the party to whom payment is to
be made, the amount to be paid and the budget grant that is to be
debited. Recoveries or deductions to be made are also included in the
payment voucher. Extra charges for transport, freight, insurance,
labour etc. when to be paid at actuals are not included unless
supported by Money Paid Vouchers. When prepared, the payment
voucher is approved for payment by the AOMM and sent to Audit with
all relevant papers.
3.7.7 Advance Payments pertain to Stores ordered but not supplied by for
which, as per terms of contract, payments need to be made in advance
before delivery. Such advances are made in circumstances as under:
(a) stores yet to be supplied;
(b) payments to be made on delivery (C.O.D.);