WISE PAYMENTS LIMITED
Company number: 07209813
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
31 October 2025
Approved by:
Kristo Käärmann
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 20 days
Total value paid:
- within 30 days: £44,009,485 (64%)
- in 31 to 60 days: £21,626,309 (31%)
- in 61 days or more: £3,513,110 (5%)
Invoices paid:
- within 30 days: 72%
- in 31 to 60 days: 22%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £34,344,993
- payments due in the reporting period which have not been paid within the agreed period: 59%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard is 30 days, but can differ depending on agreement with vendors, 99% of invoices during the period were under terms that range 0-60 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
94 days
Number is in days. Maximum contractual period is determined dependent of the vendor we have no set internal policy to determine this
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Construction contracts are specifically utilised for office construction projects, such as refurbishments, relocations, or expansions. We incorporate retention clauses in these contracts to ensure that all snag items are resolved within the agreed timeframe following the delivery of the space. These clauses serve as a guarantee that any outstanding issues are addressed promptly, maintaining the quality and functionality of the office environment.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
Yes: 10%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The retention is paid out to the contractor when the contractor has resolved all of the outstanding items that were flagged after the delivery of the space. After that warranty applies that is usually 2 years after the delivery of the space.
Is the money released in stages?
No
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
0%
Dispute resolution process
If there is a dispute with an invoice we liaise with the vendor and the relevant business to resolve the issues. The vendor would have direct contact with the AP team for payment issues, who then work with the relevant business departments to get invoice to payment stage.
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