LEICESTER CITYBUS LIMITED
Company number: 02000072
1 October 2018
to 30 March 2019
This report was filed on 23 April 2019
and approved by David Alexander
Average time taken to pay invoices: 61 days
- within 30 days: 21%
- in 31 to 60 days: 28%
- in 61 days or more: 51%
Invoices due but not paid within agreed terms: 16 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
The Company’s standard payment terms are 90 days from date of valid invoice. It is the Group’s policy to agree appropriate payment terms for each transaction or series of transactions, and to abide by those terms on the submission of a valid invoice. The Company regularly agrees variations to the standard terms with individual suppliers depending on the nature of the goods/services and other circumstances.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
The Company is committed to dealing with suppliers in a fair, consistent and transparent manner. We seek to resolve any invoice queries as quickly as possible between the Accounts Payable team and the relevant supplier. If a dispute cannot be resolved it is escalated to the relevant Head of Department and Procurement.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?