The Vendor Payment Program (VPP) was put in place by the State of Illinois in order to help vendors get paid in a timely manner. Due to a lack of available funding, many Illinois state vendors have had to wait an excessively long time for payment. This has resulted in severe cash flow issues for Illinois vendors. In order to help as many vendors as possible get paid and to minimize confusion about how the program works, here are some common misconceptions about the Vendor Payment Program.
1. Vendors have to pay for enrollment
Actually, vendors incur zero cost for enrollment in the Vendor Payment Program. There’s also no cost for payment of eligible invoices. In other words, after successful enrollment and submission of eligible invoices, a vendor gets 100 percent of the balance due on the invoice through VendorPayment.The vendor never pays for any part of this service. It’s completely free, provided by the State of Illinois.
2. Only one invoice can be submitted
This is not the case. The Vendor Payment Program provides for as many eligible invoices as the vendor wishes to submit. Once a vendor is enrolled with a qualified purchaser, the vendor can submit just one invoice or several in succession as they become eligible. There is no limit to the total number of invoices, as long as they’re all eligible under the terms of the program.
3. The Vendor Payment Program is only for large invoices
VPP is available to any State Vendor regardless of the amount due on your invoice. Whether you have a few hundred or thousands of dollars due, VPP is available to get your invoices paid.
