NEWTECNIC INVOICE PAYMENT POLICY

This policy sets out Newtecnic's invoice Payment Policy. We ask all staff to act according to the spirit and the values represented by these policies in all activities undertaken as part of Newtecnic.

Newtecnic will accept only invoices that contain the following information as a minimum:

1. Name and address of company to be paid.

2. Issue date and sum payable against payment schedule.

3. Reference to ongoing contract or agreement.

4. Specific items being invoiced and unit cost.

Any invoices that do not have this information will not be accepted.

Payments can only be made following acceptance of an invoice.

Payments will be processed in the month following acceptance of an invoice, and in accordance with the agreed payment terms.