THE CO-OPERATIVE BANK P.L.C.

The Banks preferred payment terms are 30 days and this submission reflects 30 days (our most commonly used term)

Disputing an Invoice

If the accuracy or completeness of an invoice is in question, a dispute will be filed with the supplier. A dispute can be defined as any discrepancy showing that something might not be true or accurate with the invoice/billing document that may result in the delay of payment.

Notifying the Supplier

> The supplier should be notified within 7 calendar days from the date the Co-operative Banks Accounts Payable department first receive the invoice.

> Send an email notice of dispute to the supplier. State in the email that the referenced invoice is being returned for the following reasons:

Supplier has not complied with the Accounts Payable Invoice & Credit note requirements policy

There is a problem with the invoice provided (for example the Purchase Order number is not clearly detailed)

Other

> Include the invoice as an attachment to the email.

> Maintain email communication and the invoice until the dispute has been resolved.

> If the supplier is wrong:

- Await the new invoice.

- The baseline date will be the date the new/corrected invoice is first received.

> If the Co-operative Bank is in error:

- The baseline date will be the latter of the original invoice received date or the goods/services received date.