VTB CAPITAL PLC
Company number: 00159752
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
30 January 2020
Approved by:
Jonathan Klus
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 3%
- in 61 days or more: 2%
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.
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 suppliers is 90 days except for the following specific nature of invoices: • Legal invoices: 365 days due to some of the services rendered are projects related which may depend on the stage of completion. • Intercompany invoices: 90 days For any invoices relating to US nexus the contractual payment terms is 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 relevant parties and accounts payable.
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