In this section we offer basic information and key requirements to ensure a successful payment process, how to transact with us and whom to contact.
How to invoice Covestro
Covestro has various fully compliant solutions in place, which allow invoices to be received electronically all over the world. Electronic invoicing is one step being taken to improve the efficiency of invoice processing.
To meet supplier and business needs alike, Covestro has partnered with external supplier networks in order to offer flexible solutions:
- ELEMICA Supply Chain Operating Network
- ARIBA’s cloud-based supplier portal
- ePDF platform
Advantages include faster processing, reduced postage and printing costs, monitoring of payment status and avoidance of lost invoices.
To receive more information about the different e-invoice solutions please contact
Paper invoices sent to Covestro‘s accounts payable department are scanned before being entered into the relevant systems. Therefore it is very important that the invoice document is of high quality and easy to read. We recommend that the invoice is on white A4 or US Letter size paper, clearly printed in black and white and that highlighter pens are not used.
Furthermore, to avoid delay in payment, it is important that the invoice includes the following mandatory information which should match the details provided in the purchase order (PO):
- Addressed to relevant Covestro Company including correct company name and full address. The addresses of Covestro subsidiaries are listed in the addresses & contacts per Covestro subsidiary list.
- Adhere to country specific requirements predefined by legal regulations (e.g. VAT)
- Supplier’s full name and address
- The word “invoice” (or if a credit, the words “credit note”)
- Invoice number and invoice date
- Value and currency
- Description of goods and services supplied
- Covestro PO number and PO item number (if applicable)
- If no PO has been issued; name, contact details and cost center of Covestro representative are required
- Any unique reference number or information requested by the Covestro representative
- Specify advance payments and final settlements, and always indicate already paid advance payments.
The invoice should be split between the net value of goods and services, the rate and amount of VAT, and the total/gross value of the invoice. Please note that any invoice which does not comply with the above requirements will be returned to the supplier for resubmission. This may lead to a delay in payment.
Correct invoicing for on-time payment
To ensure timely and accurate handling of your delivery and payment of your invoice(s), we request that all suppliers fully comply with the following instructions:
- Only one purchase order (PO) should be billed per invoice.
- The invoice should match the PO (e.g., if the PO is split into separate line items; the invoice should also be split into separate line items).
- Unit price, unit of measurement and currency must be the same as on the PO.
- PO line item number needs to be referenced on each invoice line item.
- Invoice payment term has to match PO payment term.
- Bill of Lading or Packing Slip Number is helpful to streamline internal processes.
- Valid bank account data must be included on the invoice.
Any missing information or deviations from the above can lead to higher internal processing times which therefore may lead to delays in payment.
Payment terms are negotiated with suppliers in advance. Invoices are always paid according to the negotiated payment terms provided in the purchase order issued by Covestro.
In case of a discrepancy in the purchase order payment terms please contact the respective Covestro representative.
In case of payment related queries please refer to the contact details and local working hours listed in the Addresses & contacts per Covestro subsidiary list.