Invoice Payment and Dispute Policy

01/02/2024

Purpose

This payment and invoice dispute policy provides the standard by which this Company operates for the prompt settlement of invoices which are properly rendered and due for payment.

Terms

• Unless otherwise specified or defined in a pre-approved Contract, the standard payment terms for this Company are Net 30. These payment terms are clearly stated in our standard terms and conditions for all suppliers.
• The effect of this policy is such that all invoices will be settles within a maximum time frame of no more than 30 days from the date of receipt of a valid invoice, unless otherwise agreed in a pre-approved Contract per above.
• No employee is authorised to vary or agree these payment terms (standard or contractual) for any reason without the express approval of Reece Charsville having first been obtained

Purchase Orders/Purchase Order Numbers

In order to avoid any difficulties with the approval and delay in payment of invoices received:

• All orders placed by an employee of the Company for the provision of goods and/or services shall not be placed unless approved by a director.
• The Purchase Order must include an invoice number.

Validation of Invoices

• All invoices received will be checked on the day of receipt to ensure that they contain all required as outlined above.
• The validated invoice will then be entered into our private database.

Disputed Invoices

• Disputed invoices are rare and will usually only arise due to typographical/clerical errors. In such cases the first step is to place a telephone call to the suppliers accounts payable section to request clarification and correction, if appropriate the resubmission of the invoice is then requested and validated for payment.
• Where a straightforward resolution as above is not possible then get in touch with Reece Charsville for resolution.

Payment

All validated invoices are settles with suppliers in accordance with the terms of this policy together with remittance advice.

Name and Title: Harry Bendix-Lewis - Director.