Published reports

GAMMA TELECOM LTD

Company number: 04340834

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 January 2020 to 30 June 2020

Report filed on:

28 July 2020

Approved by:

Paul Maher

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

within 30 days: 77%
in 31 to 60 days: 19%
in 61 days or more: 4%

Late and disputed:

total value of payments due in the reporting period which have not been paid within the agreed period: £0
payments due in the reporting period which have not been paid within the agreed period: 24%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Gamma’s supplier payments policy is to always pay suppliers on or before the agreed term (which will vary from contract to contract). If an invoice is fully authorised on the system, it will pull through to the next available payment run even if this is before the contractual due.

Were there any changes to the standard payment terms in the reporting period?

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

Offered by supplier without Gamma requesting

Any other information about payment terms

Gamma currently have a few suppliers who are paid via a netting agreement. The terms of these agreements are that payment can only be processed once the netting is agreed by both sides. This can result in the days taken to pay being abnormally high on some invoices and therefore influencing Gamma’s average days taken to pay suppliers. Due to Gamma’s dispute policy whereby the disputed value of an invoice is withheld from payment until resolved, this can also result in average days taken to pay being influenced.

Dispute resolution process

Any disputes are raised with the supplier directly at the earliest opportunity. Any valid charges on an invoice are paid, with the disputed amounts being held back until a credit is received or the dispute has been resolved.

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 Fair 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.

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.

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?