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NSF PAYMENT POLICY FOR TIMBER SALES APPENDIX K-II DOUGLAS COUNTY FORESTRY DEPARTMENT NSF Payment Policy for Douglas County Timber Sales DEFINITIONS 1. Payment received is defined as payment being received and receipt dated by the Douglas County Forestry Department office staff no later than 4:30PM CST, on the due date. 2. Payment received in its entirety is defined as the total payment being received including any wood cut amount and any increment installment amount. 3. Payments are defined as increment installments, wood cut payments, lump sum payments, penalty payments, bid guarantee bonds, performance bonds, and any and all other transfers of financial funds from the Purchaser to the County as called for by the County under the Douglas County Timber Sale Contract. 4. Acceptable forms of payment are money order, cashier’s check, certified check, personal check, letter of credit, surety bond, business check or cash unless otherwise specified. NON-SUFFICIENT FUNDS (NSF) PAYMENT POLICY All payments are to be submitted in-full by a method covered by sufficient funds. If payment is submitted by a method covered by non-sufficient funds STEP ONE and the following shall apply regardless of when the deposit was made by the County. Purchaser will be charged an NSF fee by the Douglas County Treasurer. If a bid guarantee bond not covered by sufficient funds is submitted to the County, the County will reject the bid for the contract for which the bond was submitted. The County reserves the right to check any and all bid guarantee bonds for sufficient fund protection at any time. If the initial advance increment installment or any lump sum payment is returned as NSF, a county-wide suspension of all harvesting and hauling operations as directed by the County will occur. Bids on any Douglas County Timber Auction submitted from a Purchaser that has any outstanding NSF payment at the time of the auction will be revoked. Requests to resume, reenter, open, commence or begin another Douglas County Timber Sale from a Purchaser that has any NSF payment outstanding at the time of the request will be denied. Purchasers with any outstanding NSF payment will have all harvesting and hauling operations on all other Douglas County Timber Sales immediately suspended as directed by the County. Any payment not received in-full by the original due date will be recorded as late and the Douglas County Forestry Department Late Payment Policy will apply, NSF payments will not be considered receipt of payment. NSF PAYMENT STEP ONE 14 additional calendar days from original due date will be allowed for payment to be received in-full regardless of what date the Purchaser is notified by the County with all NSF payment occurrences recorded and kept on file. ¾ One occurrence will be allowed in a 12-month period commencing on the date of first occurrence. On the second occurrence within the 12-month period, the following shall apply: 1. Excluding the bid guarantee bond or performance bond, all payments from that date forward for a period of 12-months will be required to be in the form of money order, cashier’s check, or cash. 2. All bid guarantee bond or performance bond payments from that date forward for a period of 12-months will be required to be in the form of money order, cashier’s check, letter of credit, surety bond, or cash. If payment is not received in its entirety, STEP TWO of the Douglas County Forestry Department Late Payment Policy shall apply. The Purchaser shall be subject to the terms and conditions of the Douglas County Forestry Department Late Payment Policy from that point forward.