HVG LAW LLP
Company number: OC335658
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
23 July 2020
Approved by:
J.A.H. Padberg on behalf of Praktijkvennootschap J.A.H. Padberg B.V.
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 10%
- in 61 days or more: 21%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
In the event that the supplier, in comparable situations (scope of order, type of client, comparable terms and conditions), charges third parties prices or rates, including any discounts granted, that are lower than the prices or rates applicable between the supplier and HVG, any such lower prices or rates will also start to apply to HVG once a difference has been noted. - Invoices must be issued in the way described in the agreement. Supplier is obliged to make use of the Purchase Order number as issued by HVG. - Invoices that are due and payable will be paid within 45 days of their date of receipt to the extent that the supplier has completely and properly delivered/performed the agreement and to the extent that HVG has received a proper invoice. - In the event that HVG fails to pay within the said 30-day period, the supplier shall so notify HVG in writing within no more than seven days of the expiry of that period. In the event that HVG owes the supplier damages due to the delayed payment of an invoice, the amount of such damages will not exceed the amount of the interest referred to in section 119 of Book 6 of the Dutch Civil Code. Under no circumstances Supplier may demand payment in advance. - HVG will have the right to suspend payment on its part in the event that the supplier fails to return to HVG the files, documents, information, designs, models and any and all copies , and/or the instruments , or fails to return all such instruments and/or files, documents, information, designs, models and any and all copies thereof, or returns them in damaged state at the time of the final delivery or upon first demand. - To the extent not stated otherwise, the agreed prices include any and all additional costs and exclude VAT. Additional costs refer to delivery costs, costs for permits and any and all other levies, among other items. - The payment by HVG of any invoice does not also constitute acceptance of the services or goods delivered, and does not affect any statements made or guarantees or warranties issued by the supplier. - HVG's failure to pay an invoice on the grounds of the presumed incorrectness of that invoice does not give the supplier the right to suspend or terminate its obligations on the basis of the agreement. The price stated in the agreement with respect to the delivery of goods and/or the provision of services will be binding. The supplier cannot pass any changes in wages, taxes and any other cost price determining factors on to HVG.
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
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
In the event of a dispute between HVG and the supplier a complaint can be raised to the finance department within HVG who will contact the responsible manager. The finance department and supplier have to reach agreement within a reasonable period. A reasonable period is defined by the parties involved. If the dispute is not resolved the supplier shall escalate the dispute to a senior representative of the supplier and the HVG manager shall escalate the dispute to the Board of HVG in order to resolve and settle the dispute between parties within a reasonable time (after consultation with the legal department of HVG). If a settlement cannot be met, the matter may be referred to the court of Rotterdam in the Netherlands, unless parties have agreed otherwise or have indicated another competent court, based on the agreement between the supplier and HVG, the applicable and agreed general terms and conditions and the rules of private international law.
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