Proformative, I wanted to understand whether or not it's standard to ask for A/P information in the exhibit of a Sales contract. Ideally, we'd like to submit a sales contract to our clients with additional information attached (helping streamline the communication/onboarding process). However, I am not quite sure if it's standard to request A/P information (e.g A/P point-of-contact, PO #, etc.) during the sales contract process. Does anyone else have experience with this?
Sales Contract + A/P Information
Answers
While the info you need is important to manage future communications, it's not relevant in a contract, or as an exhibit. But if you want to reduce risk over collection disputes, you should consider a clause in the contract like requiring purchase orders from the customer.
The AP or Buyer contact info is administrative, as is customer bank information. Make your sales rep collect that before the first order. Based on your local country laws, you may also require a VAT or Sales Tax exemption certificate.
Either way, it's a good practice to get that as early as possible, and your sales colleagues should understand the importance of that. So make it a checklist item in the contract closing process. If it is a big risk in your industry/customer base, then make it a control step that no account will be opened until this info is received.
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