Foster + Svensson is focused on responsible business practices. Guided by international standards, expertise and local operational experience, our partners are perceived as equal. We work together either to provide superior service to our clients, or to have best possible solutions for work and excellence. Fully transparent and with high business ethics practices.
Supply chain sustainability is considered as priority for Foster + Svensson, where we aim to build competitive advantage though setting high requirements and first class service for our clients. Partnerships and cooperation with suppliers are vital to achieving the responsible supply chain. We believe that our partners and suppliers must be briefed about the services we provide in order to provide us best possible proposal which will be acceptable by our clients. Such can be fulfilled by proper briefing, operational involvement, joint cooperation, constant project updates, supervision, rollout, delivery and payment. In addition, we also expect that our partners and suppliers will be able to offer us best possible proposals.
That is why Foster + Svensson adopted IPS (Instant Payment Service) and use this service for payment towards its partners and suppliers. Our internal procedure policy allows us to use IPS service and perform payment to our partners and suppliers with no limited time frame. We support payment towards our partners and suppliers 24/7 not limiting payment on a certain day, weekends or public holidays.
As defined by National bank of Serbia, IPS is available to be used for domestic payments in Serbia with a payment limit no higher than 300.000 RSD per transaction, processed within 1-2 seconds. Foster + Svensson is using IPS service within its bank account at UniCredit Bank and providing payments towards its partners and suppliers 24/7 for provided services. We believe in reliable and fast supply chain, where we keep economy productive and sustainable by fulfilling our mutual obligations, payment of provided services and having financial hygiene factor set as high.
Foster + Svensson aims to be a flagship company in Serbia, which will be a role model of corporate sustainability and high business standards by supporting local economy and people wellbeing. One more thing to be proud of.