T.R. FASTENINGS LIMITED

TR Fastenings Ltd standard payment terms for stock suppliers are from date of invoice or receipt of
invoice where
a copy has been received.
M15 net monthly, payable on the 15th or the 1st working day after.
M30 net monthly, payable 1st working day after due date , or the 1st available date subject to the
Company shutdown at Christmas or Public Holidays.
M45 net monthly, payable on the 15th or the 1st working day after.
M60 net monthly, payable on the 1st working day after due date, or the 1st available date subject
to the Company
shutdown at Christmas or Public Holidays. Exceptions to the above include:
Imported goods where payment is from Bill of Lading (SOL), and TR Fastenings Ltd have terms ranging
from: SOLO to SOL 60.
Following an extraordinary agreement with certain suppliers - TR Fastenings Ltd have M90 net
monthly, payable on
the 1st working day after due date, or the 1st available date subject to the Company shutdown at
Christmas or Public
Holidays.
Variations to these standard payment terms are by exception only, and only applied when negotiated
and agreed by
both parties.
For non-stock suppliers:
Our standard terms are negotiated between both parties.

If at any time a dispute arises between TR Fastenings Ltd and a supplier, the invoice will be
recorded on the system,
and rejected as a non-compliant invoice.
Our process is to reject the invoice with a reason code i.e. quantity difference to an Accounts
Administrator, they
liaise with the Purchase Order placer who in turn will contact the supplier with the query.
Once a resolution has been agreed the invoice will be passed back to finance for processing and
payment.
Where
necessary a credit note will be requested and if this is not forthcoming within 2 weeks TR will



raise an internal debit
note, and a copy will be sent to the supplier.