WYBOSTON LAKES LIMITED
Company number: 01122944
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
29 January 2019
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%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 82%
Payment terms
Shortest standard payment periods
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
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
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 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.
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