This procurement policy sets out the guidelines for the payment of suppliers and the adoption of good practices for Civico Limited. We are committed to ensuring that our suppliers are paid promptly and fairly, and that our business operations are in line with the highest ethical standards.
Payment of Suppliers
- All suppliers will be paid at least 95% of invoices within the agreed payment terms, without any attempt to change terms retrospectively.
- For businesses with fewer than 50 employees, invoices will be paid within 30 days, while for other businesses, invoices will be paid within 60 days.
- We accept, our suppliers right to use late payment legislation to invoice for late payment interest and charges when appropriate.
Guidance to Suppliers
- Clear and easily accessible guidance on payment procedures and invoicing requirements will be provided at the on-boarding stage: invitations quote, agreements, and contracts.
- A system for dealing with complaints and disputes is in place, with a clearly communicated single contact-point for suppliers to check the status of their invoices.
- Suppliers will be informed immediately if there is any reason why an invoice will not be paid according to the agreed terms.
Adoption of Good Practices
- We will demonstrate our commitment to good practices by using the PPC logo on our documentation and publish our Prompt Payment Code on our company website.
- We will request that our lead suppliers encourage the adoption of good practices throughout their own supply chains by inviting a PPC statement on supplier’s quotations, and invoices.
- Any practices that adversely affect the supply chain will be avoided.
- We accept, a potential process of investigate and action where a supplier claims that a contract term is grossly unfair.
In this policy, Civico Limited demonstrates our commitment to good payment practices and ethical business operations.
In this policy, Civico affirm our commitment to adhering to these PPC guidelines in our procurement practices.
Name: Daniel Cremin
Position: CEO, Civico Limited
Revision Date: 10.01.2023
How to Get Paid – Guide
At Civico, we are committed to paying our suppliers promptly and fairly. This guide outlines the steps for submitting an invoice and receiving payment for the services provided to our company.
Step 1: Review Invoicing Requirements
Before submitting an invoice, please review the invoicing requirements outlined in our procurement policy, including payment terms, invoicing format, and contact information for any questions or concerns.
Step 2: Submit Invoice
Invoices should be submitted via email to the designated accounts payable email address provided at the time of on-boarding. Please include a detailed description of the services provided, the agreed payment amount, and any relevant purchase order or contract information.
Step 3: Invoice Approval
Invoices will be reviewed and approved by our accounts payable team. If there is any missing information or discrepancies, our team will reach out for clarification.
Step 4: Payment Processing
Once an invoice is approved, payment will be processed according to the agreed payment terms outlined in our procurement policy. This typically takes 30 days for businesses with fewer than 50 employees and 60 days for other businesses.
Step 5: Payment Confirmation
You will receive confirmation of payment via email, along with any relevant payment information, such as the date of payment and the payment method used.
Step 6: Dispute Resolution
If there is a dispute or discrepancy with an invoice, please reach out to our accounts payable team for resolution. Our procurement policy outlines a system for dealing with complaints and disputes and provides a contact-point for suppliers to check the status of invoices.
At Civico, we are committed to paying our suppliers promptly and fairly, and this guide provides the steps for submitting an invoice and receiving payment. If you have any questions or concerns, please reach out to our accounts payable team.
|Name: Daniel Cremin|
|Position: Company CEO|
|Revision Date: 10.01.2023|