AARTEE BRIGHT BAR LIMITED

The standard contractual length of time for payment of invoices is variable based upon the type of
supply and the market in which the supplier trades
(e.g. geographical location)
At the point of initial order with a new supplier the agreed terms are forwarded to the supplier for
verification by the suppliers finance department and a signed copy is held with the Aartee Bright Bar
finance department for future reference
In consideration of the supply of Goods and/or Services by the Seller, the Buyer shall pay the invoice
amounts in accordance with the terms of credit where it is implied that the Seller shall receive payment
up to 2 days from the agreed processing date

No changes have been made to the underlying terms during the period

Upon receipt of invoices the documents are date stamped and entered onto a register as proof of
receipt. Where necessary invoices are then forwarded to the originating purchaser for authorisation. A
weekly review is made of all invoices that have been registered for greater than 1 week but not fully
authorised and an up to date status added to the internal system for review by Management and the
finance department for follow up.
Quality :
Upon receipt of goods a visual inspection is made and if deemed sub-standard referred to the Quality
Department
Where appropriate an internal rejection is raised and the supplier informed with any photographic
evidence and samples if required
Once a reasonable period has elapsed the supplier will be chased for a response and action taken in
accordance with the findings
Once action has been agreed the credit note is processed and/or invoice released for processing and
payment
Weight/quantity (Steel) :
Actual receipts are compared to advised receipts with any discrepancies investigated and reported to
quality if found to be material
Suppliers are notified of any shortage and credit requested
Once action has been agreed the credit note is processed and/or invoice released for processing and
payment
Pricing :
Invoices are checked and if there is a variance to the original purchase order, the invoice is referred
back to the originating purchaser for investigation
The price is either confirmed as correct, or credit requested if overcharged
Once the credit note is received or the purchaser agrees the variance the invoice is processed
Late Delivery :
Where material is receipted in one month but invoiced during the prior period the due date for the
invoice will be presumed as being based on the month of receipt. Suppliers will be informed and
payment date amended accordingly
POD’s :
POD’s must be supplied with invoices. This is a standard request to all carriage suppliers and internally
for all sundry supplies
Payment query – lost in post/damaged
Cheques lost in the post or damaged will be reissued and resent within 1 working week