PORTSMOUTH WATER LIMITED
Company number: 02536455
Reporting period:
1 October 2017 to 31 March 2018
Report filed on:
30 April 2018
Approved by:
Helen Orton
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
30 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
This is 30 days End of Month
Any other information about payment terms
N/A
Dispute resolution process
Through close relationships with our suppliers we are in are fortunate to have minimal instances where payment of invoices has been in dispute. Our current process means that both the Financial Controller and the Purchasing Manager are aware on a day to day basis of any payment disputes and these are actioned and resolved quickly. Statements are reconciled monthly and all of our spend is covered by a Purchase Order system which is managed on a daily basis.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No