Yup. Universities, government agencies and giant multinationals will all pay according to their standard vendor policies. This may be 3+ months after you submit the invoice in some cases. But most of these institutions will pay, so you just have to let them do their thing.

Basically, beyond a certain size, it's more trouble for an organization to cheat a vendor than it is for them to pay as agreed. Non-payment may require getting their lawyers involved, pulling in higher management, etc. (This is based on experience in the US. Things may be different elsewhere.)