CLOSE ASSET MANAGEMENT LIMITED
Company number: 01644127
Reporting period:
1 August 2021 to
31 January 2022
This report was filed on 2 March 2022
and approved by Catherine Parry
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 100%
Invoices due but not paid within agreed terms: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Close Asset Management Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Group’s policy is to pay within 60 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid 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
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Close Asset Management Limited and the supplier will first attempt to resolve any dispute by referring it for formal discussion between Close Asset Management Limited authorised representative and the supplier (both acting reasonably and in good faith). If Close Asset Management Limited authorised representative and the supplier are for any reason unable to resolve the dispute within 14 days of the date of its referral to them, the dispute may be referred to court by either Close Asset Management Limited or the supplier.
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.
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