A deposit will be invoiced and due prior to parking. Business Accounts will be invoiced and unable to begin parking until the invoice has been paid.
The calculation is based on number of parkers, parking rate and net terms. The amount may be periodically reviewed and adjusted based on same factors. Deposits are non-negotiable.
EX: 5 parkers @ $100.00 rate = $500.00 Deposit
Previously accounts were pre-pay accounts in which monthly parking fees were collected prior to parking. Our system redesign, phased in over the last few years, has allowed companies to pay by consumption. The system change has drastically reduced number of adjustments, refunds, and memo credits saving valuable time for your accounts payable department. In addition, the new system has also expedited the activating and cancellation of parkers.
The deposit is calculated based on the number of subscriptions you maintain on your account. Premium Parking will retain this deposit until the time at which you cancel your parking account. Upon cancellation, the deposit will be applied to your final invoice. If there is a balance remaining it will be issued by check within 45 days of the final invoice.