WGC LTD

Company number: 01163829

Reporting period:
1 October 2017 to 31 March 2018

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This report was filed on 27 April 2018

and approved by MELANIE TROIANO

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 54%
• in 31 to 60 days: 40%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 89%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

weekly payments made for all invoices on aged analysis reported in the 30 day column

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

45 days

some supplier will invoice annually in advance and invoices are due to be settled by monthly standing order and hence take 1 year to clear totally

Any other information about payment terms

N/A

Dispute resolution process

correspondence via email and telephone discussion between both party's accounts departments initially and then referral to any other departments within the business where necessary with the aim of resolution as quickly as possible.

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, 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.

Yes

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