Supplier Information
Dear Hybricon Supplier:
Effective July 2, 2006, Hybricon will be changing our Accounts Payable policy from an invoice-based system to one which requires us to make payments based on product receipts. This new system means that we will no longer require you to send invoices for products you deliver to us.
To ensure that you receive accurate and prompt payment from Hybricon, it will be imperative that the packing slip accompanying the product shipment reference the proper line of the Purchase Order we issued. If there are discrepancies during the receiving process between the packing slip and the Purchase Order, payment may be unnecessarily delayed while the difference is reconciled. Consequently if you have any concerns or corrections when you receive an original Purchase Order, please contact the buyer who issued the order with any questions. No freight charges will be reimbursed unless they appear as a separate line item on the Purchase Order; per Hybricon’s Supplier Routing Instructions (a copy is located under “Suppliers” on www.hybricon.com), shipments should be collect unless otherwise specified. Other common invoicing inconsistencies are non-product charges such as tooling or expedite charges, which again must be on the Purchase Order you receive and included on the packing slip you provide when you ship the product or service. Please refer to the enclosed examples of a Purchase Order and packing slip to better understand what the proper documentation will look like.
In anticipation of kicking off this change, we would like to request that you send us a current Statement of Account so that we can verify that there are no discrepancies on the books. Statements should be sent to Nichole Denahey via fax (978-772-2963) or e-mail (ndenahey@hybricon.com) no later than June 30, 2006.
Thank you in advance for your cooperation as we implement this change. We believe that the new policy of paying off product receipts will ultimately result in accurate, prompt payment with less administrative burden on both our companies.
Regards, HYBRICON CORPORATION
John W. Kosiba Vice President, Finance
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