Welcome to Automated Supplier Invoice Information System. This tool provides you with the status of your invoices. To make inquiries, use the same username and password you use for Tender Online System.
For more information, refer to the User Guide.
Invoice Requirements
1. Invoices submitted by contractors must be original and must contain the following information:
2. Contractors or suppliers domiciled in the Republic of Panama must accompany their invoices with current and valid clearance certificates issued by the Ministry of Economics and Finance, (Internal Revenue Directory) as well as from the Social Security Institution. Invoices associated to contracts or purchase orders lesser or equal to $500.00 are exempt from this requirement. Causes for Returning Invoices An invoice is defective and shall be returned when:
Tax Exemption As stipulated in the Article 43 of the Panama Canal Authority Organic Law, all goods object of a contract, consigned to the Authority and identified as such on the contract as well as all services rendered to the Authority, are exempt from the payment of any national or municipal levy, tax, duty, fee, rate, charge, or contribution.
|
Suppliers Payment Portal
|
Clearance Certificates
1. Requirements that must fulfill the clearance certificates (income tax and social security contributions) submitted along with the supplier’s invoice:
2. Procedure for submission of clearance certificates
|
Payment Terms
The Panama Canal Authority shall make a payment within thirty (30) calendar days after the submission of a complete invoice and delivery of the object of the contract or purchase order. Calculation of the thirty (30) day-period will begin the day after the latest of these dates:
The 30-day period shall be reduced if the contractor offers to the Authority a prompt payment discount. Examples of payment due date calculations: First example: Goods were received in the latter date.
Second example: Invoice and additional documents were received in the latter date.
Delays in the payment attributable to the Authority When a delay occurs in the payment process attributable to the Authority, interest estimated shall be recognized and paid automatically for the delay period at the LIBOR rate at three (3) months, valid at the beginning of each quarter. |
Payment Assignments
The Authority shall accept a request from a contractor for assigning payments due or to become due under a contract to a financial or governmental institution. A payments assignment contract must fulfill the following requirements:
The payment assignment contract must be submitted with the following documents:
The payments assignment contract must:
“Invoice corresponds to a contract with a payment
assignment” |
Offering Prompt Payment Discounts
The Authority shall make a payment within thirty (30) calendar days after the contractor submits a complete invoice along with any required documents and delivers the goods or services, object of the contract or purchase order. To reduce the 30-day period to make a payment, the Authority accepts the offering of prompt payment discounts. Discounts will be taken whenever they are proven to be economically beneficial for the Authority. A prompt payment discount may be offered before, during
or after a supplier invoice is submitted. Discounts will be offered for all invoices submitted to the Authority by the contractor.
In doing so, the contractor must send, by fax, a written
notice offering the prompt payment discount. See
an example of the notice. Calculation of a discount payment date: To calculate a discount payment date the following parameters have to be taken into consideration:
Examples of discount payment date calculations: Discount Offered: 2% in 15 days, net 30. First example: Goods were received in the latter date.
Second example: Invoice and additional documents were received in the latter date.
Important notice: The acceptance of a discount does not exempt the contractor from complying with the Invoice Requirements and the Payment Terms. For additional information feel free to contact the Accounts Payable Unit, Accounting Division, at info-proveedores@pancanal.com.
|