WESTERN POWER DISTRIBUTION (SOUTH WALES) PLC
Company number: 02366985
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
22 October 2020
Approved by:
Ian Williams
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 4%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
10 days
Longest standard payment period
61 days
Standard payment terms
Western Power Distribution do have different types of standard contracts depending on the product, service or works but the standard payment term for the majority of our contracts is Net Monthly. This means payment will be due on the last day of the month following the one in which the invoice is dated. This also applies to purchase orders raised with no formal contract in place.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
61 days
No further comment provided
Any other information about payment terms
For our Standard Terms and Conditions, as stated on our purchase orders, please refer to www.westernpower.co.uk/standard-terms-purchasing The invoice delivery address is also detailed on the purchase order. If a valid invoice is received promptly at the correct invoicing address, quoting a valid purchase order it will be processed in a timely manner to ensure the invoice is paid on or before the invoice due date.
Dispute resolution process
Invoice disputes and/or general enquiries regarding the status of an invoice would be dealt with by Accounts Payable initially. If the enquiry could not be resolved it would be escalated to either the person responsible for raising the order or the appropriate Business Management. For specific contractual disputes, the relevant member of the Procurement team would be contacted to resolve as quickly as possible. Dispute resolution forms part of our Standard Terms & Conditions. Please refer to www.westernpower.co.uk/standard-terms-purchasing
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.
No
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