VTB CAPITAL PLC
Company number: 00159752
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
26 July 2019
Approved by:
Jonathan Klus
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 6%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Under VTB Capital PLC's standard contractual terms, we commit to the payment of all undisputed sums properly due to third party suppliers within 30 days of receipt of a valid invoice. For any invoices which have a US nexus, the contractual payment terms is reduced to 14 days from the invoice date, as a result of the extended sectoral Russians sanctions which became effective from November 2017.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
Maximum period to third party and inter-company suppliers is 90 days except for the following specific nature of invoices: • Legal invoices: where the services rendered are project related and where the payment terms may depend on the stage of completion/milestones reached, etc; and • For any invoices having a US nexus the contractual payment terms are 14 days from the invoice date.
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are resolved through a process involving the supplier, the relevant Business Partner and the Accounts Payable function within VTB Capital Plc.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No