BAUER MEDIA OUTDOOR UK LIMITED

Standard Payment Terms are 45 days

"• Depends on the reason…

o if the supplier or Landlord are claiming shorter terms than we have set in our systems, the AP team would refer the supplier or Landlord to the Procurement or Estates Management team, respectively, so terms can be agreed as vendor amendments are the responsibility of these teams to approve.

o If payment is late, the AP team will investigate and resolve ASAP. Reasons are usually that an invoice is awaiting approval with the relevant designated approver or that the Purchase Order has not been raised/receipted by the relevant department within the business. AP will follow up with the individuals concerned to resolve, enabling the invoice to be processed for payment, at which point the invoice can then be settled on the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.

o Costing query, where the invoice exceeds the PO value – these are routed via workflow in the system to whomever approved the purchase order, to approve the difference, after which the invoice is processed for payment and settled on the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.

o On some occasions a credit note will be requested, if the supplier has invoiced at an incorrect value.

o If a reminder is received and the invoice has not been received prior to this, the AP team will request a copy of the invoice and process as normal so it can be settled in the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.
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