Wessex Archaeology Ltd and its subsidiary companies (Wessex Archaeology) believes that fair and prompt payment practices are essential to achieve successful integrated working on all projects.
We comply with the principles of the UK Government’s Prompt Payment Code and are committed to paying our supply chain partners on time to mutually agreed terms.
We are committed to continuous improvement in this area and are striving to ensure that Government targets are consistently met, i.e., that all supplier payments are made within agreed terms and at least 95% of invoices received are paid within 60 days.
Wessex Archaeology has a duty in relation to Public Contracts to report on payment practices and performance in each six-month reporting period.
Default Payment Terms
Payment terms are agreed on a supplier-by-supplier basis, as part of contract negotiations. The agreed terms will depend on the type of work, size of the company and product or service purchased.
Applying for Payment
In line with the Prompt Payment Code, Wessex Archaeology will always aim to pay all authorised invoices within 60 days from date of receipt. For small businesses (i.e., those with fewer than 50 employees), we aim to pay authorised invoices within 30 days from date of receipt.
We acknowledge the right of our suppliers and subcontractors to use late payment legislation to invoice for late payment interest and charges, where we fail to pay within agreed terms.
When Wessex Archaeology work on projects subject to the Public Contract Regulations 2015 all payments shall be made within 30 days from date of application for payment and Wessex Archaeology shall actively encourage and monitor the adoption of 30 day payment terms for its suppliers and sub-contractors associated with such projects.
a) Supplier Invoices
The date we receive an invoice is classed as the date the invoice is received either by email to the accounts payable invoicing inbox (email@example.com) or by post to Accounts Payable, Wessex Archaeology Portway House SP4 6EB however we prefer to receive invoices by email.
The Invoice: should
- State a valid Purchase Order number.
- Be compliant with HMRC VAT invoice guidelines.
- Suitably specify what the charges are and what they are for and Good or services have been received in accordance with the specification (proof of delivery may be required).
If the requirements above are not met, the invoice may be returned for cancellation and resubmission.
b) Subcontractor Applications for Payment
Wessex Archaeology will agree a schedule of subcontract valuation and payment dates at the outset of each new engagement.
Applications for payment must be made in line with this schedule; any application submitted after the due date may not be considered by Wessex Archaeology until the next application for date falls due.
Each application for payment should detail:
- the value of all work completed under the subcontract (including detailed measurements to support the values or quantities included in the application)
- the value of all variations instructed.
- the payments previously made (a statement of which will be included in the application for payment).
When Wessex Archaeology are working on projects subject to the Public Contract Regulations 2015, the above timeframes are condensed to ensure payments are made within 30 days from date of application for payment.
Dispute Resolution Process
Wessex Archaeology is committed to fair treatment of all our suppliers and actively seeks to resolve disputes in a timely manner.
Dispute resolution mechanisms are discussed and agreed with suppliers at contract negotiation stage.
The initial point of contact for any invoice disputes will be the Accounts Payable team (firstname.lastname@example.org), who if unable to resolve, will escalate the matter to the relevant contract / commercial team and subsequently to Senior Management, should this be required.
Where it is not possible to reach a satisfactory agreement, other methods of dispute resolution, such as mediation or adjudication by a reputable body would be considered. Litigation will be considered as a last resort.
For more information on Fair and Prompt Payment, contact us at email@example.com