PURPOSE / SCOPE:
ICOM is committed to maintaining a consistent and reliable payment process for independent contractors who provide services to ICOM
ICOM is committed to fostering positive and mutually beneficial relationships with independent contractors. This policy ensures timely and accurate payment for their services, promoting transparency and professionalism in our business operations.
- Payment Schedule - ICOM will pay independent contractors on the 10th of every month for the previous month’s work, unless there is an agreement in place for work to be paid quarterly in which case payment will be made by the 10th of the month following the close of the prior quarter. Should the 10th fall on a weekend or public holiday, the payment will be made on the previous business day.
- Invoice Submission – Contractors will work with ICOM department leaders and administrative support in recording work completed and eligible for payment. Such payment information will be entered into ICOM’s payment system, currently Paylocity, and approved by appropriate ICOM personnel.
- Payment Process – the Contractor will be paid via the agreed upon payment method, paper check or direct deposit. Independent Contractors should ensure that their payment information is accurate and up-to-date to avoid any delays in receiving payment.
- Recordkeeping & Regulations – ICOM will maintain accurate records of all payments made to independent contractors and will comply with all applicable laws and regulations.
VP of Human Resources & Organizational Development