SEVERN TRENT WATER LIMITED
Company number: 02366686
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
16 April 2019
Approved by:
James Bowling
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 28%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are those terms offered to our supply partners. They are agreed prior to the commencement of trading and form part of our trading terms and conditions.
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
90 days
The maximum contractual payment terms of 90 days falls outside our current standard payment terms. These terms are only used for older contracts which have not yet fallen due for negotiation.
Any other information about payment terms
N/A
Dispute resolution process
If communication between the purchaser and supplier fail to be resolved, the Severn Trent Finance Team will engage with supplier and the user to resolve the issue.
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.
Yes, this business has signed up to: Prompt Payment Code
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.
Yes
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