GOV.UK
PONTSARN INVESTMENTS LIMITED
Company number: 00611070
Reporting period:
1 October 2018
to 31 March 2019
This report was filed on 29 April 2019
and approved by N Sanderson
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 15%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 31 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
In February 2019, Great Portland Estates plc updated its supplier terms and conditions for all Group members, which included standard payment terms of 30 days after receipt of a correctly rendered invoice. The new terms have already been issued to all of our existing smaller suppliers (c375), and will be issued to any new suppliers that we engage with, unless there are separate agreed terms or an engagement letter in place.
Were there any changes to the standard payment terms in the reporting period?
Yes – In the last reporting period, Pontsarn Investments Ltd did not have standard payment terms, as these were dependent on individual agreed terms with the supplier. However, in February 2019, Great Portland Estates plc updated its supplier terms and conditions for all Group members and these were issued in writing to all our smaller existing suppliers (c375). Suppliers were not consulted with or notified ahead of the change, as the updated terms included standard payment terms of 30 days, which were already our most frequently agreed terms.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Pontsarn Investments Ltd makes every effort to resolve payment related disputes and queries as quickly as possible. Suppliers should raise issues of non-payment to the accounts payable team, who will investigate why the items have not been paid. If the invoices remains unpaid due to disputed charges, accounts payable will refer the supplier to the correct team member within the team.
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
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No