HALSION LIMITED
Company number: 03172014
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
10 April 2019
Approved by:
Christopher Parsons
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 59%
- in 61 days or more: 23%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Labour only subcontractors are paid within 7 days (circa 17% of overall spend).
Major suppliers (including multi nationals) are predominantly 60 days end of month.
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
90 days
Subcontract applications are agreed on 45, 50 or 60 day terms.
The preferred supply chain partners are a mixture of 30, 60 and 90 days from end of month in which the invoice is raised.
Only 1.53% of total payments relates to 90 day end of month terms.
Any other information about payment terms
No further comment provided
Dispute resolution process
Subcontract disputes are dealt with in line with Halsion terms and conditions.
Supplier disputes are dealt with in line with supplier terms and conditions.
Notable, very few disputes ever arise.
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
Yes