FAIR PAY PRINCIPLE PLANT DIRECT HOLDING B.V. (CoC no.: 34097743)
The following companies come under Plant Direct Holding B.V.: IBH Export B.V. (CoC no.: 33281287), IBH Westland B.V. (CoC no.: 56416806), IBH Export Germany B.V. (CoC no.: 34354225), IBH Retail GmbH (HRB 15600), Greenfair International B.V. (CoC no. 34295952), Intermedex B.V. (CoC no.: 34312392), Evagreen B.V. (CoC no.: 69299692), IBH Sverige AB (CoC: 5591287999) and Kirsti B.V. (CoC no.: 34247014)
Based on both Dutch and European laws and legislation relating to the Know Your Customer principle (hereinafter: the KYC principle), Plant Direct Holding B.V. and its underlying entities (hereinafter: PDH) are obliged to follow and comply with that legislation.
As every customer of PDH is aware, we have stored a complete customer file in our CRM system which complies with the KYC principle for each individual customer.
One of the components of the KYC principle amongst other things is the continuous identification for each payment of a direct link between your company name and the payment from the IBAN number/account number which you use to make payments where the company name and numbers of invoices paid are visible. This principle which is called the PLANT DIRECT HOLDING FAIR PAY PRINCIPLE will be explained in more detail below.
What is agreed between your company & PDH
Based on this principle, it is agreed between you as the customer and PDH as your flower, plant and/or bouquet supplier, in line with the KYC principle, that we are obliged to comply with the following:
- PDH identifies each payment by displaying a link between your company name and the payment from the IBAN number/account number which you use to make payments where the company name on the one hand and the number(s) of the invoices paid on the other hand are visible;
- We also expect you as the customer to pay from an IBAN number/account number that originates directly from your company where the company name is also sent with the payment and can be identified by PDH including the numbers of the invoices that you have paid;
- If the above is not the case and you use a company that takes care of your payment for you in the form of a so-called third-party payment by a third party, we are obliged to check the reasoning behind this as well as the plausibility and legitimacy of the third party. Therefore we would like to ask you why you need to use a third party and why you are unable to pay your invoice(s) directly from your own account in your company name? As we know from our joint collaboration, this may be due to the use of groupage deliveries or the complexity of changing currency into euros or another reason, for example. Please state the reason on the last page of the annex;
- We are also obliged to further identify and also verify the third party in the form of company name -, VAT number -, who is/are the UBO(s) of the third party and a copy of the passport of the UBO (Ultimate Beneficial Owner with a minimum shareholding of 25%). Please state the reason on the last page of the annex;
- Based on your answer to the question as to why you use a third party, we will also carry out an internal check on that company as well as verify that it has a fully functional website, a plausible registered address associated with its business activities and that the directors/UBO can be traced from credit information and our own internal organisation will investigate the UBOs of the third party on the Internet;
- After this internal check for approval, we expect you to include your company name and the oldest invoice number that you are paying in the payment description in the third-party payment. This is to be communicated as a fixed workflow in the collaboration between your company and the company that takes care of payments for you. The above should also be made known to PDH in advance by means of a payment confirmation;
- The above also applies if you as the customer use a credit card or debit card (hereinafter: card). That card must be registered in the name of your company of which you are the UBO;
- The situation may arise where you and your company wish to use a different third party to take care of your payment. You can do that and we will be happy to cooperate in a flexible manner based on the following arrangements: if the above situation arises, you must first of all contact your primary contact person and the management of PDH. A mandatory check will then be carried out by the internal organisation of PDH on the company that will be acting for you as a third party and the UBO of that company. Once the results of that check have been approved by PDH, we will notify you of our approval regarding the change of third party in writing and by e-mail. Once this has taken place, you can make the payment in accordance with the above procedure. If the third party is not approved as a result of our internal check, we will notify you accordingly and you will therefore be unable to use that third party to take care of your payment to one of the IBAN numbers of PDH. If it is found that PDH has received a payment to one of its IBAN numbers from an unapproved third party, we will pay that amount directly back to the third party.
- The above can also take place in the event of a change of credit card or debit card. The same procedure as described in the paragraph above will then apply and we request your full cooperation.
What will PDH do if your company fails to comply with the situations described above or is unable to do so?
- If the details of a payment are unclear and the stipulations as set out in this principle have not been complied with, we will start off by asking you for the first time why you as our customer are unable to comply with this workflow and remind you of the payment transaction arrangements we apply as agreed between you as our customer and PDH. We will also speak to you by means of a video conference call or telephone call;
- In the case of a second situation, we will repeat the above. We will also speak to you by means of a video conference call or telephone call;
- In the case of a third situation, PDH is obliged to report the payment without any further form of explanation, along with the company name and at least the oldest invoice number, to the Dutch authorities in line with the applicable laws and legislation that are known as the Money Laundering and Terrorist Financing Act (Wwft).
PDH will notify its customers individually by means of a separate letter which will be sent both in the form of a hard copy and by e-mail. Naturally, as a customer you will be given the opportunity to respond. You can do so by contacting the management of PDH directly. This element will also be added to your customer file as a separate part of our customer terms and conditions. Therefore we would be grateful if you as a customer of PDH and also the UBO (Ultimate Beneficial Owner) could sign the letter drawn up and sent separately and return it to PDH. After we receive this letter which is signed both by you and us, it will be stored in your customer file. If we do not receive confirmation from you as the customer by way of a signature by the UBO, 4 weeks after the date of this letter we will assume that you are in agreement with the contents of this letter and that you have taken note of and also will comply with/implement the stipulations therein;
Management of Plant Direct Holding B.V.
JANUARY 2021