KISIMUL GROUP LIMITED
Company number: 03630117
Reporting period:
1 January 2021 to 27 June 2021
Report filed on:
22 July 2021
Approved by:
Alistair Barber
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 18%
- in 61 days or more: 4%
Late and disputed:
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
61 days
Standard payment terms
Standard payment terms 30 days from end of month invoices are received. Several significant contracts including agency staff, food providers, legal and constructions costs, are subject to specific payments terms.
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
76 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Finance Dept logs the complaint from the supplier and it they cannot resolve the issue it is passed to the operations dept personnel responsible for purchasing the service. Company policy is that all invoices must be approved for month end or an explanation is required to Finance. Finance then share this with the supplier and will put the supplier in direct touch with the ordering personnel in order to facilitate a resolution.
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.
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