VTB CAPITAL PLC

Company number: 00159752

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 27 July 2018

and 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%

Invoices due but not paid within agreed terms: 1%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

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?

Answer not provided

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

N/A

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 Prompt 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