VOLKSWAGEN GROUP UNITED KINGDOM LIMITED

The company's standard supplier payment terms are net monthly, which means an invoice is settled at the end of the month immediately following the month it was issued. Alternative payment terms may also be negotiated on a case by case basis during contract negotiations. The company pays its intra-group suppliers of vehicles and spare parts no earlier than 45 days following the date of invoice via a weekly payment run, which means payment may be made up to 4 working days after the due date.

The company aims to resolves all disputes related to payment as efficiently as possible. In the first instance the dispute should be handled by the Accounts Payable team. If it cannot be resolved it will be escalated to the department that entered into the business relationship with the supplier, where the company's representatives will use their best endeavours to resolve the dispute in a reasonable timescale. As a last resort the dispute may be referred to the company's Legal Counsel.