TP ICAP GROUP SERVICES LIMITED
Company number: 01105245
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
24 July 2026
Approved by:
Colette Tamar Zakarian Moore
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 34 days
Total value paid:
- within 30 days: £101,118,709 (69%)
- in 31 to 60 days: £28,872,705 (20%)
- in 61 days or more: £17,280,449 (12%)
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 18%
- in 61 days or more: 11%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £12,949,397
- payments due in the reporting period which have not been paid within the agreed period: 8%
- not made in the reporting period due to a dispute: 8%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Purchasing - Disputes are managed by the Contract Owner (Business) and the Procurement Owner (Category Manager) to review agreed terms and update finance / supplier accordingly.
Accounts Payable (AP) have a dedicated mail box for dealing with all AP related queries and are contactable by phone or email. Vendors are requested to email a dedicated mailbox with invoice queries. If the team are not able to resolve the query this is escalated to the AP Manager. In addition, the AP team reach out to the business contact if it's not clear why the invoices have not been approved/paid. All invoices in query are processed at header level on the supplier account with comments/hold reasons. Once the invoices are paid, AP will contact the vendor to provide remittance advice.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any dispute relating to an invoice, payment, or other contractual matter is reviewed by the Accounts Payable team in conjunction with the relevant budget holder or contract manager. We encourage suppliers to raise concerns promptly and provide supporting documentation where applicable.
Disputes are acknowledged and investigated as soon as reasonably practicable. Where a matter cannot be resolved at the operational level, it is escalated to the appropriate departmental manager and, if necessary, senior management for review.
We aim to work collaboratively with suppliers to reach a fair and timely resolution. Payment of any undisputed amounts will be processed in accordance with agreed contractual terms while the disputed element is under review.
If a dispute cannot be resolved through internal discussions, it will be managed in accordance with the dispute resolution provisions of the relevant contract.
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