Standard Payment Terms

Harvard University’s standard payment term for all companies is Net/30 (unless an early payment discount applies). This means that we will make payment to the vendor 30 calendar days after the invoice date. Certain categories of payees are set to immediate payment terms, meaning that payment is made in the next payment cycle (payments are sent on Tuesdays and Thursdays) after the invoice is processed by AP. 

Please visit the Office Controller website for details.

Vendor Type Description


End to End*
Companies All standard business, corporations, consultants (incorporated), government entities, etc. Net/30 30 business days from date on the invoice
Utilities Vendors provide a utility service such as power and wat Immediate 2 – 5 business days
Rentals and Leases vendor where the primary payment type is a rental or lease payment (e.g. rental agency, leasing broker, etc.) Immediate 2 – 5 business days
Individuals Standard Individuals Immediate 2 – 5 business days
Foreign Individuals (1042S) Foreign individuals who must report taxes as 1042s Immediate (w/ extra review) 3 – 7 business days