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Advisory 10 Invoicing and Payment Terms For API Invoices

API is changing its payment terms for annual fees and audit invoices. Invoices will now have specific payment due dates and reminder notices will be sent if payment is not received by the due date. If payment is still not received after the due date, licenses and certifications will be suspended. If payment is not received within 30 days of suspension, licenses and certifications will be cancelled. Once cancelled, organizations must reapply and pay outstanding fees to reinstate their licenses and certifications. Accurate contact information must be kept up to date to ensure timely receipt of invoices.

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67 views

Advisory 10 Invoicing and Payment Terms For API Invoices

API is changing its payment terms for annual fees and audit invoices. Invoices will now have specific payment due dates and reminder notices will be sent if payment is not received by the due date. If payment is still not received after the due date, licenses and certifications will be suspended. If payment is not received within 30 days of suspension, licenses and certifications will be cancelled. Once cancelled, organizations must reapply and pay outstanding fees to reinstate their licenses and certifications. Accurate contact information must be kept up to date to ensure timely receipt of invoices.

Uploaded by

airlinemembership
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Advisory 10

Invoicing and Payment Terms for API Invoices

This Advisory notifies all licensees, registrants and applicants of changes to API’s payment
terms for annual fees and audit invoices.

API is committed to providing value to the oil and gas industry through our portfolio of licensing
and certification programs. On time payments ensure that API is able to successfully maintain
programs and strengthen the quality of service. To achieve these goals, it is necessary that
organizations pay invoices in a timely manner, by the due date shown on the invoice and include
the Invoice Numbers and/or Facility IDs on whatever payment type made (check, ACH or
WIRE). Please note that payment is not recognized until it clears our bank AND is posted in
our accounts receivable system against the invoice that was issued.

Effective immediately, API will issue invoices according to the following Schedule of Invoicing
and Payment Periods table (Schedule). All payments are due by the date identified in the
Schedule. Reminder notices are based on the Invoice Payment Due Date and will be sent
according to the Schedule if necessary. If payment is not received (posted in bank AND posted
against invoice in API’s accounts receivable system) by the Payment Due Date, the process for
suspension of licenses/certificates/registered perforator design(s) will be initiated.

Advisory 10 December 21, 2018 API is an equal opportunity employer


Formal notification of the suspension will be sent to all affected licensees/registrants/applicants
according to the Schedule and will result in the immediate status change to the
license(s)/certification(s)/registered perforator design(s). Except for those facilities subject to
U.S. Russia sanctions, if payment is not received (posted in bank AND posted against invoice in
API’s accounts receivable system) within 30 days of the suspension, the
license(s)/certificate(s)/registered perforator design(s) of registration will be cancelled. Those
facilities subject to the U.S Russia sanctions will be cancelled immediately if payment is not
received within 45 days. Once cancelled, in order to obtain a license(s)/certificate(s)/registered
perforator design(s) of registration, the organization must reapply and pay all outstanding audit
invoices. Furthermore, submission of a new application and fees is required.

Organizations are reminded that to ensure timely receipt of invoices, accurate contact/billing
information must be maintained by the organization in myCerts. Inaccurate or out-of-date
contact/billing information will not be accepted as reason for nonpayment by the stated due dates.

We value you as a client and appreciate your effort each day to maintain the highest possible
standards of safety and production in the oil and natural gas industry.

This advisory supersedes any previous guidance. It is considered part of API’s Program Requirements and
compliance is required for certification.

Advisory 10 December 21, 2018 API is an equal opportunity employer

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