VOLUNTARY SERVICE OVERSEAS
Company number: 00703509
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
28 October 2019
Approved by:
Christopher Merry
Payment statistics
Average time taken to pay invoices: 8 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Unless otherwise agreed in writing the Supplier shall invoice after the delivery of the goods or performance of the services unless otherwise agreed in writing by the purchaser. The purchaser shall pay for the goods or services no later than 30 days after the receipt of a correct invoice unless otherwise agreed. The Purchaser will be entitled to set off against the price any sums owed to the Purchaser by the Supplier
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
It is the responsibility of the staff member acting as contract manager, seeking advice from the Finance department and/or procurement department to s resolve supplier disputes. Disputes are to be resolved in an amicable and timely manner. If a dispute cannot be resolved it is referred for arbitration or expert resolution as recorded in the VSO standard contract terms and conditions
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