VOLUNTARY SERVICE OVERSEAS
Company number: 00703509
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
30 October 2018
Approved by:
Christopher Merry
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Unless otherwise agreed in writing suppliers are only entitled to invoice the purchaser after the delivery of goods or performance of the services as relevant. It is the purchaser's responsibility to ensure that each invoice is correct. The purchaser will pay for goods and services no later than 30 days after receipt of a correct invoice unless otherwise agreed. Purchaser is entitled to offset 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
When a dispute related to payment arises it is the responsibility of either the staff member acting as contract manager, seeking advice from the finance department and /or procurement department to follow up the matter with the supplier, This will firstly involve discussing the dispute and reviewing relevant documents with the aim of resolving the matter in a timely and amicable manner. Where this is unsuccessful disputes may referred for arbitration or expert resolution. Provisions for dispute resolution are stated 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