1. Purpose

This policy outlines the process and timelines for submission, verification, and settlement of vendor invoices to ensure transparency, consistency, and efficient cash-flow management.

2. Applicability

This policy applies to all vendors, service providers, suppliers, and contractors providing goods or services to Leto (“the Organisation”).

3. Vendor Payment Cycle

Vendor payments are processed once every month during the third week, i.e., between the 18th and 20th of the month, on working days only (excluding weekends and bank holidays).

4. Invoice Submission Cut-off

Vendors must submit complete and accurate invoices on or before the 15th of each calendar month.

Invoices received after the cut-off date shall be automatically considered for the next payment cycle, irrespective of the invoice due date, unless otherwise approved in writing by management.

5. Eligibility for Current Month Payment

Vendor invoices shall be processed in the current month’s payment cycle (18th–20th working day) only if both the following conditions are met:

• The invoice is received on or before the 15th of the month, and

• The invoice due date falls on or before the 21st of the same month

• Invoices not satisfying both conditions shall be carried forward to the next payment cycle.

6. Verification & Approval

All invoices are subject to internal verification for accuracy, completeness, and compliance with agreed commercial terms. Payments shall be released only for verified and approved invoices. Payments may be consolidated vendor-wise per payment cycle.

7. Exclusions

The following payments are excluded from this vendor payment cycle:

• Salaries and employee-related payments

• Statutory dues (including but not limited to TDS, GST)

• Rent and doctors’ professional fees

• Utilities or services with fixed statutory or contractual due dates

• Advance, emergency, or out-of-cycle payments shall be processed only with prior written management approval.

8. No Liability for Delays

The Organisation shall not be held liable for payment delays arising due to:

• Late invoice submission

• Incomplete or incorrect documentation

• Discrepancies or disputes

• Non-compliance with this policy

• Force majeure events or regulatory requirements

9. Policy Acceptance

By continuing to supply goods or services to the Organisation, vendors acknowledge that they have read, understood, and agreed to comply with this policy.

10. Amendments

The Organisation reserves the right to amend, modify, or update this policy at its sole discretion. Updated versions shall be published on the website and shall be effective from the date of publication.

11. Governing Terms & Jurisdiction

This policy shall be read in conjunction with the Organisation’s Terms & Conditions.
In case of any conflict, the terms expressly agreed in writing between the Organisation and the vendor shall prevail.
All disputes shall be subject to the jurisdiction as specified in the Organisation’s Terms & Conditions.

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Please refer to our Support: Issue Resolution [Level of Escalation Matrix] 

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Note:

By continuing to provide goods or services, vendors acknowledge and agree to adhere to this payment policy.