VISION SECURITY GROUP LIMITED
Company number: 03892575
Reporting period:
1 October 2017 to 31 March 2018
Report filed on:
30 April 2018
Approved by:
Alison Henriksen
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 49%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
90 days
Standard payment terms
The standard payment terms are payment of invoices on the 28th of the month following invoice processing date (subject to pre-determined cut-off dates – normally 2 weeks prior to the period end).
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the first instance, suppliers who have a query regarding an invoice should speak with their Compass contact who can liaise with the Accounts Payable team. Alternatively, suppliers can contact the Accounts Payable team directly.
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.
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