Supplier Guidance Notes: Payment of Invoices.

Supplier Guidance Notes: Payment of Invoices.

Introduction

Odin Events Ltd is committed to the prompt payment of valid invoices in accordance with contractual agreements. To ensure that we process payments as quickly as possible, suppliers must comply with the following guidance on invoice submission.

What is a valid invoice? To qualify as valid, an invoice must:

• Be invoiced to Odin Events Ltd and quote a valid Odin Events Ltd Purchase Order (PO) number.

• All requests for goods, works, and services must be accompanied by a PO number. Only in exceptional circumstances (e.g. out-of-hours emergencies) should suppliers accept an order without a PO number. In these instances, suppliers must ensure that a PO number is provided the next working day.

• If the invoice does not quote a valid Purchase Order number, then the invoice will be returned to the supplier unpaid under Odin Events Ltd’s No PO: No Pay policy.

Additionally, invoices must:

• Quote a unique invoice number or reference.

• Clearly state the full Accounts Payable address of Odin Events Ltd (see section titled "Where to send invoices" for the full address).

• Provide clear details of the organisation submitting the invoice.

• Clearly state the payee (for receipt of payment).

• Provide an email address to which payment remittances can be sent.

• Provide contact details in case of invoice query.

• Provide clear details of the goods, services or works provided.

• Have a valid invoice date (tax point date).

• Provide Company & VAT registration numbers (where applicable).

• Have the correct VAT calculations.

• Be clear, legible, and correctly totalled.

• Include relevant supporting information, such as timesheets.

Invoices not complying with these terms will be returned for correction or clarification, potentially delaying payment processing.

Invoice formats Odin Events Ltd is implementing electronic (EDI) invoicing. The aims are to:

• Reduce invoicing costs for both Odin Events Ltd and suppliers.

• Improve organisational efficiency.

• Improve payment performance.

• Adopt environmentally friendly, paperless processes.

Please contact Odin Events Ltd Procurement Services for further details.

Early payment programme

Our Premier Supplier Service offers Odin Events Ltd.’s suppliers early payment options once an invoice is authorised ahead of the standard 30-day terms, in exchange for a pre-agreed rebate. Benefits include improved cash flow and reduced payment-chasing efforts.

Suppliers can sign up by contacting Odin Events Ltd directly.

IR35

Following the introduction of IR35 legislation, unless prior communication from a supplier and agreement from Odin Events Ltd exist, both parties acknowledge that payments made by Odin Events Ltd are inclusive of all Pay As You Earn tax and National Insurance Contributions applicable to the staff for which the supplier is responsible, payable to HMRC in accordance with legislation.

Privacy notice

Odin Events Ltd will use your personal information to facilitate payments, collect monies owed, and contact you regarding payments.

We may share information with nominated third-party providers engaged by Odin Events Ltd for payment processing, fraud prevention, account recovery audits, early payment discount management, and purchase card services.

Where to send invoices By email

Odin Events Ltd’s preferred method of receiving invoices is by email. Valid invoices should be attached as a PDF and emailed to the Accounts Payable team at the designated email address provided by Odin Events Ltd.

Each PDF must contain only one invoice, although multiple PDFs may be attached to a single email. Supporting documents such as timesheets may be attached separately or included within the same PDF as the invoice.

By post: Odin Events Ltd Accounts Payable – Invoices

The Orchard,

The ST.

Marston Meysey.

Swindon.

Wilts. SN6 6LQ

Note: Delivery address differs from invoice address.

What happens to an invoice when it reaches Odin Events Ltd.?

All invoices are processed by the Accounts Payable team. Once an invoice matches the details on the quoted purchase order and the goods, services, or works have been receipted, the invoice will be paid automatically.

What happens if an invoice is rejected? If discrepancies are found, the invoice will be placed under query. Accounts Payable will contact the responsible officer at Odin Events Ltd., who will, in turn, contact the supplier to resolve discrepancies. Suppliers will be notified promptly of invalid or unmatched invoices.

When will I be paid? Standard payment terms are 30 days from the validation of the invoice or receipt of goods, works, or services by Odin Events Ltd, whichever is later. Specific contractual terms may vary; suppliers should review their contract for specific payment terms.

Payments are typically credited to bank accounts within three working days from receipt of remittance.

Date of last review: Jan 2025