Page 20 - WRMSDC Construction Day 2020 - Digital Brochure

Small & Disadvantaged Volume I, Issue II
October 2020
Small & Disadvantaged Business Depot – October 2020 Newsletter
Business Depot

Quarterly Newsletter

Letter from the General Manager/CEO

At a time when small businesses have been
suffering from the impacts of COVID-19,
The Santa Clara Valley Transportation
Authority (VTA) has adopted a new policy
we hope will make things a little bit easier
on them.

The policy, which takes effect October 1,
2020, provides for payments to Certified VTA’s Office of
Small Business Enterprises (SBEs) that are Business Diversity Programs
prime contractors to VTA within 15 days
after an invoice is fully approved by VTA. (R-L) Olga Medina – Manager
Anne Baltao – Office Specialist
Known as “Net 15” because of the of 15-day timeline, this practice will Jennifer Mena – Management Analyst
accelerate payments to Certified SBEs twice as fast as the standard Thomas Le – Management Analyst
practice of 30 days. In addition, no discounts will be taken from the
payments unless negotiated into the contracts in advance. This policy
will apply to all current and new SBE prime contractor awards. Inside this issue:

I am proud of VTA’s leadership in this area as one of the first transit Contract Opportunities ....................2
agencies in the nation to enact such a policy. VTA’s prime contractors Letter from VTA’s CPO .....................2
are also being encouraged to follow VTA’s lead by expediting payments EBRC Project Update ......................3
to their Certified SBE subcontractors.
Letter from OBDP Manager .............3
At a time when cash flow is critical to the very survival of small Small Business Success Story .........4
businesses, we hope that this new policy to expedite payments will 3 Steps to Success .........................4
help support our economy through this difficult period and beyond. Resources .....................................5

For more information about this policy, please call VTA’s Office of Busi- BART Phase II Update .....................6
ness Diversity Programs at 408-321-5962, or email OBDP@vta.org. Silicon Valley Black Chamber
of Commerce Interview ...................7
Upcoming Events ............................7
Documents Required ......................8
Gifts & Gratuities Reminder .............8
Nuria I. Fernandez Quick Tip .......................................8

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