About Payment Terms & Discounted Terms (Beta)

Payment Terms & Discounted Terms introduces high-level payment scheduling and discount management directly within Procore Pay, helping to close a critical gap between construction management and commercial payment execution. By enabling teams to define explicit payment timing rules (owner-funding, net-based, and discount-only terms) and exact payable amounts at the commitment level, Procore Pay is designed to assist in aligning subcontractor billing with agreed-upon terms, calculated due dates, and discount calculations on future invoices.

This capability is built to help general contractors capture early-payment discounts and optimize revenue opportunities while maintaining strict control over on-time disbursements, compliance obligations, and audit trails. By providing transparent discount visibility across finance and payment operations teams, it replaces manual spreadsheet tracking with explicit, auditable legal and commercial workflows.

• Dedicated Payment Terms Management:
  Access a centralized Payment Terms settings area in Procore Pay to build, manage, and view standardized payment terms across your organization.

• Flexible Term Type Configuration:
  Define flexible terms tailored to specific contracts, including Owner-Funding, Net-Based (e.g., Net 30), and Discount-Only structures with all required timing parameters.

• Commitment-Level Term Assignment:
  Easily select and apply specific Payment Terms directly during commitment creation, automatically linking calculated payment schedules and discount parameters to resulting contracts and future subcontractor invoices.

• Transparent Invoice Discount Calculations:
  View applied payment terms directly on invoices, complete with automatically calculated due dates, target discount deadlines, and projected discount outcomes for clear financial visibility.

• Discount Removal Workflow:
  Manually forfeit or remove an invoice discount when terms are not met, featuring a clear confirmation prompt; once removed, the discount cannot be re-applied.

• ERP Identification Capture:
  Track and display native ERP IDs on each Payment Term setting, supporting consistency and cross-system reference readiness even prior to automated synchronization.

• Streamlined Compliance & Lien Waiver Management:
  When issuing a discounted invoice through Procore Pay, Procore is designed to automatically trigger the request to unlock the required lien waiver.

Here are some important things to know about Payment Terms & Discounted Terms: