Supplier's Report of Sales and Industrial Funding Adjustment (IFA):
By the 10th day of every month, the Supplier shall submit "Monthly Sales Information" to VITA. Sales information shall be submitted through this Web page. Supplier shall report total sales (defined as all invoiced payments received by Supplier from all authorized users) for their VITA Contract(s) during the preceding month. Supplier shall be responsible for submitting the monthly report of sales even if Supplier has had no sales (i.e., a $0.00 total sales value) for the reporting period. The Supplier shall submit the Industrial Funding Adjustment (IFA) payment for the period covered by such "Monthly Sales Information" within thirty (30) days after submitting the "Monthly Sales Information." The IFA payment is equal to two percent (2%) of total sales reported during the relevant month. The IFA payment shall be submitted to VITA, Attention VITA Controller, in the form of a check or electronic payment, made payable to the Treasurer of Virginia. The IFA payment shall reference the appropriate contract number, "report amounts" and "report period."
For additional information about the VITA IFA program, please contact IFACoordinator@vita.virginia.gov
Small Business Participation:
Supplier and VITA agree to meet promptly after the effective date of this contract to discuss the participation of Virginia Department of Minority Business Enterprise (DMBE)-certified Small Businesses as subcontractors under this contract.
By the 10th day of every month, Supplier shall submit to VITA Small Business Subcontracting monthly spend information. This information should include spend on all Supplier's contracts, with subcontractors, which provide products or services under the contract. The spend information should specify the amount of such spend provided to small businesses. Supplier shall submit the information through the VITA Supplier Reporting website. For additional information about the VITA SWaM program, please contact SWaM@vita.virginia.gov.
For additional information about the VITA SWaM program, please contact SWaM@vita.virginia.gov