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WYBOSTON LAKES LIMITED

Company number: 01122944

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 29 January 2019

and approved by Julie Ireland

Payment statistics

Average time taken to pay invoices: 36 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 58%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 82 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

90 days

Standard payment terms

Our standard most common terms are 30 days following invoice date. Although we do have various agreements in place including 60 days after end of month. We have some specialist suppliers which require 7 to 14 days.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

We would follow the dispute resolution procedure in the contract which would typically include putting the dispute in writing to the supplier and enter into dialogue to resolve the issue. We would use order and proof of delivery or supply of services to back up our dispute. This has always ended in resolution in the past with no need for further escalation.

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.

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