Company number: 02400155
and approved by Helen Urquhart
Average time taken to pay invoices: 64 days
Invoices paid:
Invoices due but not paid within agreed terms: 85%
30 days
75 days
Unless otherwise specified in the purchase order or agreed by contract all payments shall be made electronically using payment term End of Month plus 60 days upon receipt of a supplier's correctly prepared and properly substantiated invoice. This equates to an average of 75 days.
Answer not provided
N/A
75 days
No further comment provided
We make one large payment run at the end of each month to capture the maximum number of supplier invoices. Depending on where month end dates and weekends fall, and with bank processing days factored into these calculations, a high proportion of our payments technically arrive with the supplier late, but this is typically only late by 1-3 days.
Invoices and payments are managed by the Accounts Payable team. Any enquiries regarding payment that cannot be answered directly will be referred to the relevant buyer or requestor in the company to answer or take follow up action to resolve.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No