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EXPONENTIAL-E LIMITED

Company number: 04499567

Reporting period:
1 August 2018 to 31 January 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 28 February 2019

and approved by Henry Pepperall

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 49%
• in 31 to 60 days: 41%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 43 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

Standard payment terms - 30 days from either invoice date of end of month

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

At Exponential-e Ltd our aim is to resolve invoice queries or disputes in a timely manner and ensure payments are made at the earliest opportunity. The main point of contact for disputes is Purchase Ledger team at Exponential-e (contact details PurchaseLedger@exponential-e.com). When an invoice is disputed the supplier will be emailed specifying what is being disputed and on what basis. To resolve a dispute a supplier is required to provide missing information so that charge can be verified and approved. The burden of proof is with the supplier so if the charge cannot be proved to be valid then a payment cannot be made and full refund will be requested.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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