THOMAS SANDERSON LIMITED
Company number: 04626841
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
30 January 2019
Approved by:
Andrew Thomas
Payment statistics
Average time taken to pay invoices: 9 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 3%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
2 days
Longest standard payment period
30 days
Standard payment terms
Unless otherwise agreed in writing, Thomas Sanderson Ltd will pay for third party goods or services, within 30 days of receipt of a correct, undisputed and properly due VAT invoice, such invoices to be provided by the supplier within the time contractually agreed with Thomas Sanderson Ltd. Invoices must generally state: the contact details of the Thomas Sanderson Ltd point of contact; the relevant purchase order number; the period to which the invoice relates; the Supplier's bank account for payment; all charges and applicable taxes and a description of the services/products. Thomas Sanderson Ltd also operates Self-Billing agreements with self-employed agents. Payments are made in the week following that in which the service was provided. However, upon termination of an agency agreement, commission payments may be held for several months until all contracts are completed. In the event of a dispute payment may be withheld pending resolution.
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
If the supplier is at fault, credit is either requested or provided and the remainder of the invoice is cleared for payment. If Thomas Sanderson Ltd is at fault the error is cleared immediately and the invoice is released 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.
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