Vendor Onboarding Policy

Overview

This document outlines the Vendor management policy of Friend Loan Technologies Private Limited (FTPL).

Policy

No Payment or invoice can be raised by any vendor unless and until they are on-boarded by Finance into internal accounting systems.

Documents Required for Onboarding

GST Registered Vendors

• GST Certificate
• Canceled Cheque indicating Bank account details and Beneficiary name matching the business entity name

Non-GST Registered Vendors

• PAN (Permanent Account Number)
• Canceled Cheque indicating Bank account details and Beneficiary name
• E-Signed declaration that they do not have a GST No and will apply once thresholds are met

Overseas Vendors

• No document required. Finance must ensure due diligence on authenticity and trustworthiness
• Payment will be made via Credit Card only

Payment Rules

• If vendors prefer Credit Card payment, canceled cheques are not required
• No payment processed without an issued invoice
• Vendors must indicate SAC Code and TDS Applicability in invoices
• If not specified, Finance may withhold 10% as withholding tax

Onboarding Timeline

• Lead time: At least 7 working days
• Minimum payment terms: At least 15 calendar days

Invoice Requirements

• All invoices must be sent in digital form (PDF) to bills-invoices@friendloan.in
• Paper invoices will not be accepted

Payment Schedule

• Second Friday (or nearest working day) of every month
• Last working day of every month (+1 day if non-working day)

Software/Service Subscriptions

• Root account: security-administrator@friendloan.in
• Root account must be added to BitWarden credential account
• Billing account: bills-invoices@friendloan.in
• Invoices not honored until above clauses are audited and certified

Other Rules

• No employee should pay vendors directly and file for reimbursement
• If Vendor files GST quarterly, GST portion held back till filing date