ARROWGRASS CAPITAL PARTNERS LLP
Company number: OC309628
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
24 January 2019
Approved by:
Adele Jennings-Day (Director of Arrowgrass Capital Services UK Limited, a designated member)
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 6%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
As a basis for negotiation, Arrowgrass standard payment terms are 45 days. However we will generally accept the supplier's own terms provided that these are not considered unreasonable. In general, Arrowgrass consider that 30 days is an acceptable length of time between receipt of invoice and payment as this allows for all internal approvals to be obtained. However, where a supplier requests earlier payment we may agree to adopt a best endeavours approach.
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
45 days
No further comment provided
Any other information about payment terms
Arrowgrass Capital Services UK Limited acts as a service company for Arrowgrass Capital Partners LLP, which includes provision of the Accounts payable function. All information provided in this report relates to qualifying contracts with, and/or invoices addressed to, either of these entities.
Dispute resolution process
All invoices, queries or complaints should be sent to invoicing@arrowgrass.com in the first instance.
Occasionally we may withhold payment of supplier invoices because of discrepancies between the invoice and the order/contract or because the quality of goods or services is not considered satisfactory. In such cases the person responsible for the supplier relationship or the requestor of the good/service will engage with the supplier contact on a timely basis in order to resolve the dispute. In the unlikely event that agreement cannot be reached, the matter will be escalated to an Officer such as CFO or COO. Where appropriate our in-house legal team may become involved and the matter may be referred to third party advisors or law firms.
Where invoices are found to be overdue because they have not been received by Accounts Payable, suppliers are requested to ensure that all future invoices are emailed to invoicing@arrowgrass.com.
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