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Frequently Asked Questions 

 

Q. Do I receive 100% of my invoice?  Are there any charges that I, the vendor, incur?
A. Once the vendor’s invoice is approved by a Qualified Purchaser, the vendor will receive 90% of the invoice.  After the Qualified Purchaser receives the base amount and the prompt payment penalty fee from the State of Illinois, the vendor will then receive the remaining 10%.  There are no costs incurred by the vendor other than giving up the prompt payment interest accrued on the base amount.

Q. Once registered, how long does it take to receive my check?
A. Once a Qualified Purchaser approves the invoice, it will take approximately 7 to 10 working days to receive a check.

Q. Do I have to assign all of my invoices or may I pick and choose?
A. This is a voluntary program.  The vendor may choose any number, or none, to assign to the program.  Invoices are not automatically assigned.

Q. Are medical assistance invoices eligible for the program?
A. Medical assistance invoices are not eligible for the program.