FINTEL PLC
Company number: 09619906
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
4 April 2024
Approved by:
David Thompson
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 32%
- in 61 days or more: 14%
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: 41%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
The Company negotiates and agrees payment terms with its suppliers as one element of its procurement process. As a result, payment terms vary by supplier. Authorised invoices will be paid ‘net monthly’, being payment to the supplier by the end of month following the month of invoice. Practically this can result in a payment period between 28 days and 61 days.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Complaints or concerns relating to disputes about payments should be directed in writing to the Accounts Payable team at Fintel House, St Andrews Road, Huddersfield, HD1 6NA. We seek to resolve such queries as quickly as possible to everyone’s satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would be escalated to the relevant Head of Department to seek 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.
Yes, this business has signed up to: Yes – Supplier code of conduct
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