Africa Business Venture (ABV) has been designed to secure a fast and efficient way for clients to engage with consultants, track their project progress and to pay their consultants.
Before starting any project, payment terms must be agreed between the consultant and the client. Upon completion of a project, the consultant will request payment as follows:
- For projects with a duration of one month or less:
- Payment shall be made once the project is completed
- The consultant shall submit a request for payment
- Upon client approval for work performed, the client shall pay within 30 days
- ABV will transfer the funds to the consultant within 5 business days less ABV’s commission.
- For Projects with a duration of a month or more: P
- Payment shall be made upon completion of relevant milestones or tasks according to the agreement between the consultant and the client
- The consultant shall manually enter key milestones onto the dashboard and will calculate the amount for each task or milestone
- Upon completion of the relevant task or milestone, the consultant shall submit a request for payment
- Upon client approval for work performed, the client shall pay ABV within 30 days. ABV will transfer the funds to the consultant within 5 business days less ABV’s commission.
Payments will be made in GBP, USD or EUR. We can accept payments in local African currencies if the parties have agreed to do so. However this will be subject to:
- All costs related to bank transfer to be paid by the client and the consultant
- Prior approval from ABV will be required to process the transaction in local currencies
Invoices will be submitted online, on the consultant dashboard or must be sent by email to email@example.com, with the client name as the reference. A request for payment will be submitted by the consultant via his/her dashboard.
The invoice must contain the following information:
- Company Name / Your own name if a sole trader
- Billing address
- VAT Number if applicable
- Company Bank Details including account number, sort code and currency of account / your bank details if a sole trader
- If a non-UK or non-sterling denominated bank account, please provide the IBAN and SWIFT/BIC number
- Project reference
- Summary of time spent and amount requested in the relevant currency
- Summary of expense amounts requested for reimbursement if applicable
- Your contact details including email and phone number
Invoices to be addressed to:
Registration number 9160389
71-75 Shelton Street