1. One Bank Account
 
The Policy requires vendors to receive monetary compensations from Deutsche Bank to a single bank account specified by them. For example, a vendor providing goods or services for Deutsche Bank Singapore cannot specify different bank accounts on the invoice depending on the service the vendor provides. Vendors that provide goods or services to multiple Deutsche Bank's regions can use multiple bank accounts, but can still only be in one bank account per region or country.
 
2. One Currency
 
The Policy requires vendors to invoice in only one currency per billed Deutsche Bank's entity. For example, a vendor providing goods or services for Deutsche Bank AG in Germany cannot not submit certain invoices in Euro and others in British Pounds. Vendors that provide goods or services to multiple Deutsche Bank's regions can invoice in multiple currencies but can still only invoice in one currency per Deutsche Bank's entity. The payment currency can be the local currency of Deutsche Bank's entity, local currency of vendor's entity or Euro.
 
3. Bank Charges
 
International vendor payments are sent on a shared charge basis. This means that Deutsche Bank will pay all its costs, however if the vendor’s Bank, or any intermediary Bank levies any charges, these will be paid by the vendor.
 
4. PO Validation
 
Deutsche Bank requires all new vendors to be approved in advance. Strict pre-approval using Purchase Order is mandatory. Should the vendor be providing goods and services on a regular or repetitive basis, Deutsche Bank Purchase Order must be created by the respective Deutsche Bank’s contact prior to receiving goods/services.
 
5. e-Invoices
 
Deutsche Bank’s preferred method for invoice submission is electronic via Ariba Network as it gives better oversight, added visibility and improved control over invoices. For AN registered vendors, paper invoices will be rejected back to the vendor for electronic re-submission.
 
 
6. Unapproved Aged Invoice
 
If an invoice has not been approved by the Deutsche Bank business lines 180 days after receipt by our Central Mailbox, it will be rejected back to the vendor. In these situations, the vendor should make contact with the Deutsche Bank business line to clarify why the invoice has not been approved and resubmit the invoice where required.
 
7. Due Diligence
 
Deutsche Bank conducts Due Diligence/Anti-Money Laundering/Preventative Crime checks throughout the life of the relationship. This means that Deutsche Bank may sometimes require additional information from vendors before we can make ongoing invoice payments or initiate new vendor relationships.
 
8. Vendor Maintenance
 
All vendor accounts maintained in Deutsche Bank's Vendor Master Database without activity for 14 months or more will be automatically deleted on a quarterly basis. If the Deutsche Bank business line wants to use the vendor again, they would have to be set up via the new creation process.