HAMMERSON (BRENT CROSS) LIMITED
Company number: 03377460
Reporting period:
1 July 2018 to 26 September 2018
Report filed on:
30 January 2019
Approved by:
Richard Shaw
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 12%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 30 days following the
invoice date.
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
30 days
Any other information about payment terms
No further comment provided
Dispute resolution process
Hammerson operates a workflow system by which
all invoices are logged by the Purchase Ledger
team and sent to the Initiator for approval. At this
point if the Initiator has a query they will contact the
supplier directly to resolve. The supplier will receive
a phone call/email/letter indicating the invoice
number and reason for rejection. The Initiator will
put the invoice on "Stop". Once the query is
resolved the Initiator will either return the invoice to
the PL team informing them a new invoice/credit
note is due or will pass the invoice on for payment.
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.
Yes, this business has signed up to: Prompt Payment Code
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