Early payment for the estimated annual cost of serials orders earns an extension of credit with HARRASSOWITZ. Depending on the date in the year at which payment is received and the total amount of the early payment account, credit will range from a minimum to a maximum amount. Information on the percentage range of the extension of credit for the current subscription year is available upon request.

HARRASSOWITZ adds the total amount of the credit to the early payment account immediately upon receipt of remittance. Therefore, the total percentage of credit is applied to the total amount paid, for the complete period of the deposit.

The Prepayment Credit Plan is available for both periodicals and continuation standing orders.

Credit Balance

If a credit balance remains in the account at the end of the period covered by the early annual payment, the options are to:

	Roll over the amount into early payment for the following year. If the library elects to roll over the credit balance into the account for the next year, and if the amount is in excess of $1,000, the appropriate extension of credit on that amount is also added to the account for the next year.
	Close out the account with a credit memo or refund.

Depletion of Credit

If the credit account for the early payment is exhausted before all invoices for the period covered have been issued, the options are:

	Deposit additional funds to cover remaining period.
	Close out the account and pay subsequent invoices as issued.

Invoicing and Accounting

One-line invoicing for the total amount of the early payment is issued according to individual library requirements. The amount of the invoice is usually based on the previous annual expenditure with an inflationary factor added. If required, it is possible to have a listing of the titles attached to the one-line invoice.

It is possible to set up a prepayment account for only part of the annual subscription cost, if the budget does not permit a prepayment of the entire amount projected for the coming year.

After remittance of the one-line invoice is received and the early payment account established, invoices are deducted automatically as they are issued. All invoices which are applied to the early payment account are clearly marked: "Confirming Invoice. Prepaid on VG....... Do not pay this invoice".

Statements of account are provided with each confirming periodical subscription invoice. For continuation standing order invoices, a statement of account is furnished every two months.

Please contact service@harrassowitz.de or your regional sales manager to participate in the HARRASSOWITZ Prepayment Credit Plan.