Doing business with Impact Global® – Vendors
Our number one commitment is satisfying our customers and stakeholders—and we can’t do that without our network of excellent vendors. Impact Global® [Bowling, Mason, & Palmer, Ltd.] is extremely selective and meticulous with the vendors represented in our stores, they are our partners in success.
The Board of Directors passed Corporate Action # 2015-12-00012 on November 18, 2015 creating a minimum vendor/supplier requirement list. Diversity in our supply base is something we truly believe in, and the best way to ensure we connect our customers with products and services that reflect the diversity of the communities we serve.
The success of Impact Global and our vendors (herein referred to as “Vendors,” “Preferred Suppliers,” or “Suppliers”) are mutual and irreversibly linked.
- VENDOR SELECTION: All vendors are left to the discretion of Administration, led by the chief executive officer. If you would like to become an Impact Global® vendor, please contact us. The president, and the chief marketing officer will review your company products with local store location manager’s and customer service manager’s and submit a recommendation to the chief executive officer.
- INVOICES: An electronic invoice will be transmitted to Impact Global in accordance with our specifications. All vendors must submit electronic invoices to a specified email address to be processed by the chief financial officer, controller, invoice auditor, or an outside CPA. Deviation from Impact Global’s requirements may result in invoice rejection or manual intervention and thus significantly delaying the payment process. We require accounting functions be synchronized with logistics; variations are unacceptable.
- The “net” terms on partner supplier invoices will be dismissed if the product has not been received.
- Invoices predating product arrival will be corrected to the date the product is accepted by management.
- Acceptance of a shipment however does not mean Impact Global, nor any other affiliate or operating division thereof is agreeing said product is complimentary of defects or meets our minimum standards.
- All invoices must include the purchase order number. In the Commonwealth of Kentucky emails and text messages are legal documents and legal forms of communication. Authorized purchases may be made from a vendors online website, emailed or text to the vendor. Questionable purchases or purchases over $2,000.00 must receive authorization from a representative in the Office of Chief Executive Officer or the Office of the President.
- Right to Withhold. We reserve the right to deduct, set-off or withhold payments determined by Impact Global to be due and owing by Vendor, whether determined by Impact Global in the course of any audit conducted on behalf of Impact Global or otherwise, if Vendor has not made payment within thirty (30) days after the invoice date.
- Impact Global will not be responsible for any late charges, penalties or assessments in connection with the assertion of its rights to deduct, set-off or withhold such amounts.
- Vendor promotional offers and allowances will be administered and implemented by Impact Global pursuant to its operating division’s guidelines.
- Payments Subject to Claims/Defenses. All amounts payable to Vendor will be subject to all claims and defenses of Impact Global, whether arising from the Impact Global Purchase Order or any other transaction.
- Impact Global has the right to set off and deduct against any such amounts all present and future indebtedness of Vendor to Impact Global (which includes all of its affiliates) and may exercise this right up to three (3) years from the date of the last shipment by Vendor.
- Vendor will be deemed to have accepted each debit amount or vendor chargeback within ninety (90) days following receipt of notice of same, unless Vendor notifies Impact Globals’ Finance and Accounting Department (marked “Correspondence” with attention to the controller) in writing during such period as to why the deduction should not be made and provides sufficient documentation of the reason(s) given.
- Non-Conforming or Unordered Products. Impact Global will have no obligation to accept or pay for any unordered Products or Products shipped that do not conform to, or comply with, this Vendor policy, including brands and products which do not elevate Impact Global and/or remain unsold.
- If Impact Global takes delivery of such nonconforming order, or any part of such an order, Impact Global reserves the right to deduct from its payment all actual or reasonable expenses, including but not limited to transportation, inspection, receipt, ticketing, re-ticketing, recall, care and custody of the Products, and notice to Vendor incurred as a result of such non-conformity or non-compliance.
- If Impact Global takes delivery of any unordered or non-complying Products, Impact Global may, without notice to Vendor of such fact, and at its sole discretion, ship the unordered or noncomplying Products to Vendor at Vendor’s cost and expense. Impact Global will have no obligation to accept or to pay for any substituted goods or excess shipment of any Products made without our prior, written approval.
- PROBLEMS: Impact Global aims to identify and resolve problems in a timely manner and in such a way that recurrence of the problem is eliminated or reduced to a minimum.
- Report store/supplier issues to the president or the vice president of customer service. All orders will be inspected by store management or an officer of the corporation immediately after delivery; defective merchandise will be returned by the Pricing & Receiving Manager for an exchange or credit issued.
- Backorders are not accepted and are prohibited.
- The company must be notified of any backorders immediately so we may find an alternative vendor.
- Title and Risk: Shipment. Unless otherwise indicated on the Purchase Order, title and risk of loss with respect to the Products will remain with Vendor until the Products have been delivered to and accepted by Impact Global, or an agent or consignee duly designated by Impact Global.
- A packing slip must accompany each shipment.
- If a shipment is to a consignee or agent of Impact Global, a copy of the packing slip must be forwarded concurrently to Impact Global.
- If no packing slip is sent, the count or weight reported by Impact Global or its agent or consignee will be final and binding upon Vendor with respect to such shipment.
- Right of Inspection. Impact Global will have the right to inspect the Products and reject any nonconforming Products within sixty (60) days of deliver. This right of inspection, whether exercised or not, will not affect Impact Originals’ right to revoke acceptance or pursue other remedies if defects or nonconformities are discovered at a later date, notwithstanding that any defect or nonconformity could have been discovered upon inspection.
- Payment by Impact Global will not be construed as an acceptance of Products, or as a waiver or limitation of any of Impact Global’s rights as set forth herein.
- In no event will Vendor sell or distribute to third parties any Products that contain logos, trade names, trademarks or labels of Impact Global, even if rejected by Impact Global as nonconforming.
- FINANCIAL INTEGRITY: All vendors must keep accurate records of all matters related to their business with Impact Global or its operating divisions in accordance with standard accounting practices such as the latest volume or update to the Uniform Chart of Accounts (UCAO].
- OPENING ORDERS: All opening orders with the company will be paid on a Net 60 or Net 90 Days to give the company time to sell your product.
- All future orders will be paid Net 30 Days.
- SUSPENSION OF VENDORS: A vendor can be suspended by the controller, invoice auditor, or any other member of Administration or the Finance & Accounting Department for not conforming to these policies. The person suspending the vendor will immediately notify the Office of the Chief Executive Officer and the Office of the President/COO to be considered for permanent termination.
Contact Impact Global® Vendor Management: