VSO consistently demonstrates exceptionally fast payment speeds, with an average time of just 8 days and 98% of invoices settled within 30 days. This trajectory indicates a strong, reliable commitment to prompt financial obligations, showing a stable trend of rapid processing.
The very low late payment rate of only 2% (1% in 31-60 days, 1% over 60 days) signifies high reliability and predictability in VSO's payment behavior. This minimizes financial uncertainty for suppliers, as the risk of extended delays is negligible.
Overall, VSO presents as an extremely low-risk partner, offering excellent payment reliability and predictability for suppliers. We recommend proceeding with confidence, as the consistently rapid payment cycle minimizes typical financial exposure and requires minimal risk mitigation efforts.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Apr 2019 - 30 Sept 2019 | 28 Oct 2019 | 8 | 98% | 1% | 1% | 2% |
| 01 Oct 2018 - 31 Mar 2019 | 29 May 2019 | 20 | 94% | 5% | 1% | 6% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 15 | 96% | 4% | 0% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Unless otherwise agreed in writing the Supplier shall invoice after the delivery of the goods or performance of the services unless otherwise agreed in writing by the purchaser. The purchaser shall pay for the goods or services no later than 30 days after the receipt of a correct invoice unless otherwise agreed. The Purchaser will be entitled to set off against the price any sums owed to the Purchaser by the Supplier
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
It is the responsibility of the staff member acting as contract manager, seeking advice from the Finance department and/or procurement department to s resolve supplier disputes. Disputes are to be resolved in an amicable and timely manner. If a dispute cannot be resolved it is referred for arbitration or expert resolution as recorded in the VSO standard contract terms and conditions
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Voluntary Service Overseas, trading as VSO, is a UK-registered charity that coordinates volunteers to support international development work. It places local, national and international volunteers alongside marginalised and vulnerable communities, focusing on inclusive education, resilient livelihoods and adolescent and youth health and wellbeing. The charity reports having worked in over 90 countries since 1958, deploying more than 100,000 volunteers. Its current strategy has reached over 24 million people through education, livelihoods and health programmes. VSO is funded by donations, trusts, agencies and private companies, and states that the majority of funds raised go directly towards its poverty-focused programmes rather than administrative costs.
Generated from the company's website and Companies House records. Sources: vsointernational.org · vsointernational.org