Vendor Payment Protocol – ACH Transfers (Effective January 1, 2026)

Purpose

This protocol outlines the standardized process for paying all vendors of The Jasper Company via Automated Clearing House (ACH) transfer. Transitioning to ACH ensures faster, more secure, and cost-effective payments, aligning with our commitment to operational efficiency and vendor satisfaction.

Scope

  • Applies to all vendor payments issued by The Jasper Company.

  • Effective for invoices dated January 1, 2026, and after.

  • Exceptions may be granted only with prior written approval from the Finance Department.

Vendor Requirements

To facilitate ACH payments, vendors must provide the following information through a Vendor ACH Authorization Form:

  1. Legal Business Name & Tax ID (must match IRS records).

  2. Bank Name & Address.

  3. Bank Account Number.

  4. Bank Routing/ABA Number.

  5. Account Type (Checking or Savings).

  6. Contact Information for accounts receivable.

Vendors are responsible for notifying The Jasper Company of any banking changes in writing at least 10 business days before the next scheduled payment.

Payment Process

  1. Invoice Submission

    • Vendors must submit invoices to info@thejaspercompany.co.

    • Invoices must include invoice number, description of services/products, and service performed date.

  2. Approval Workflow

    • Invoices are reviewed and approved by the relevant department within 5 business days of receipt.

  3. ACH Payment Schedule

    • Standard vendor payments are processed 30 days after the service is performed.

    • Payments falling on U.S. bank holidays will be processed on the next business day.

  4. Processing Time

    • ACH transfers typically settle within 1–2 business days.

    • Vendors will receive an email remittance advice with invoice/payment details on the date payment is initiated.

Security & Compliance

  • Vendor banking information is stored securely in compliance with NACHA and PCI DSS standards.

  • Banking details are verified during onboarding and subject to periodic review to prevent fraud.

  • Any changes to vendor payment details must be validated with two-step authentication (e.g., phone and email verification).

Exceptions

  • Wire transfers may be used for international vendors or urgent payments with CFO approval.

  • Payments via Zelle, Apple Pay and other 3rd party services will be phased out after December 31, 2025, except in extraordinary circumstances.

Effective Date

This protocol is effective January 1, 2026 and will remain in place unless revised by The Jasper Company’s Finance Department.