Suppliers

Last updated at 14:43 on 25/02/2019

Procurement Policy

Procurement in the Valuation Offices adheres to National & EU legislation. The Office has developed procurement policies in line with the Office of Government Procurement (OGP) guidelines which are designed to ensure fairness, transparency, value for money and promote best practice throughout all stages of the procurement process. 

Information on the Office of Government Procurement (OGP) can be found on their website at: www.ogp.gov.ie

Prompt Payment Policy

The Valuation Office is committed to making every effort to pay supplier invoices promptly. In this regard suppliers can help us by ensuring the following:

  • All invoices must quote our correct purchase order number
  • All invoices for payment must be emailed directly to accounts_payable@valoff.ie
  • Accurate bank account details are provided
  • Correct email address is provided for a remittance advice
  • Quote the name of the person who order the goods/service on the invoice
  • In the case of public sector contracts of €10,000 (including VAT) or more within any 12 month period, the contractor must produce a valid Tax Clearance Certificate from Irish Revenue Commissioners. Full details on tax clearance procedures can be found on http://www.revenue.ie/en/tax/it/leaflets/guidelines-tax-clearance.html

Purchase Orders 

Details of all purchase orders greater than €20,000 will be published here in arrears, five to six weeks after the quarter ends. 

Legislation

Payment of invoices by the Valuation Office is governed by the Prompt Payment of Accounts Act, 1997 as amended by the European Communities (Late Payment in Commercial Transactions) Regulations 2002. The regulations which apply to the public and private sector equally, provide an automatic entitlement to interest and compensation if payment for commercial transactions is late.

If the date or period for payment is not fixed in the contract, the creditor is entitled to interest for late payment upon the expiry of any of the following time-limits:

30 calendar days following the date of receipt of goods or services, or date of receipt of the invoice or an equivalent request for payment, whichever is the later
The standard deadline for public authorities to business payments is 30 days. Payment can be extended up to 60 days only if it is “expressly agreed” and justified in light of the nature or feature of the contract.

The Valuation Office as a matter of policy endeavours to pay all supplier invoices within the agreed terms as specified in its purchase order. Where however the invoice does not do so and not withstanding that the Office will as soon as feasible contact the supplier in that regard, it nonetheless cannot take responsibility for delays arising there from and consequently neither prompt payment interest or penalties will apply in this circumstance.

From the 1st July 2018, the current late payment interest rate is 8.00% per annum (that is based on the ECB rate of 0.00% plus the margins of 8%). That rate equates to a daily rate of 0.022%. Penalty interest due for late payments should be calculated on a daily basis. In addition to receiving interest on late payment the supplier is entitled to automatic compensation of a minimum of €40 if the invoice is less than €1,000.

The legislation does not oblige payment to be made to supplier who has failed to comply with tax clearance certificate requirements. The Act does not affect the deduction of withholding tax from any payment to a supplier.

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