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GROSVENOR ESTATE MANAGEMENT LIMITED

Company number: 02048534

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 24 January 2019

and approved by Chantal Henderson

Payment statistics

Average time taken to pay invoices: 19 days

Invoices paid:

• within 30 days: 91%
• in 31 to 60 days: 7%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 16 %

Payment terms

Standard payment period for qualifying contracts

28 days

Standard payment terms

We have 28 day payment terms as standard

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

28 days

Any other information about payment terms

N/A

Dispute resolution process

With respect to contracts with suppliers, the general position is that the Grosvenor contact responsible for the supplier relationship will first attempt to resolve the dispute in a timely manner. Such discussions would generally seek to deal with any disputes promptly in accordance with the terms of the contract.

If required the dispute will be escalated to the supplier category head, who will liaise with the business contact from the supplier in order to come to an agreeable outcome.

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

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