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PAYMENT TERMS & INVOICING POLICY

Mototolo Platinum Mine – MPLATS ENTERPRISE (PTY) LTD

1. PURPOSE

To define the standard payment terms and invoicing procedures that govern financial transactions between Mototolo Platinum Mine and its suppliers, ensuring timely and accurate processing of payments.

2. PAYMENT TERMS

Mototolo Platinum Mine applies flexible payment terms based on the nature of goods or services provided and agreed contractual conditions:

Payment Term Description Application
NET 14 Payment due 14 calendar days from invoice receipt or completion of works/service Petroleum products only, counted from date of delivery and invoice submission
NET 30 Payment due 30 calendar days from invoice date Standard for most goods and services
NET 60 Payment due 60 calendar days from invoice date Large contracts or special arrangements
NET 90 Payment due 90 calendar days from invoice date Extended terms for strategic suppliers
NET 120 Payment due 120 calendar days from invoice date Full contract value settlement or exceptional cases to strengthen supplier relationships

3. INVOICING REQUIREMENTS

To ensure smooth and timely payment, suppliers must submit invoices that meet the following criteria:

  • Reference the official Purchase Order (PO) number issued by Mototolo Platinum Mine.

  • Include detailed description of goods or services supplied.

  • Clearly state the agreed unit prices, quantities, VAT amount, and total invoiced value.

  • Include supporting documentation where applicable, e.g., delivery notes, Certificates of Analysis (CoA), Collection PIN, and Allocation Numbers.

  • Supplier’s banking details must be accurate and up to date.

  • Invoice must be addressed to:
    MPLATS ENTERPRISE (PTY) LTD
    1 Mototolo Road, Mototolo / Der Brochen Complex, Burgersfort, Limpopo, 1150

4. PAYMENT PROCESS

  • All invoices are reviewed by the Finance and Supply Chain departments for accuracy and completeness.

  • Payment terms start from the invoice date or completion of works/service, whichever applies, as per contract conditions.

  • Payment will be processed in accordance with the agreed Net terms following verification and approval.

  • Early payment requests or deviations require prior approval from Mototolo’s Finance Manager.

  • Any discrepancies or disputes in invoicing must be resolved promptly to avoid payment delays.

5. NON-COMPLIANCE AND PENALTIES

  • Invoices missing essential details or documentation will be returned for correction and may delay payment.

  • Failure to comply with the payment terms and invoicing requirements may result in suspension of supply or contractual penalties as per agreement.

  • Mototolo Platinum Mine reserves the right to withhold payments until full compliance is achieved.

6. CONTACT FOR PAYMENT ENQUIRIES

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