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THAMES WATER UTILITIES LIMITED

Company number: 02366661

Reporting period:
1 October 2018 to 31 March 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 April 2019

and approved by Brandon Rennet

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

• within 30 days: 22%
• in 31 to 60 days: 26%
• in 61 days or more: 52%

Invoices due but not paid within agreed terms: 25 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

91 days

Standard payment terms

ZM60 (60 days end of month) which ranges from 61 - 91 days
Payment is due on the last day of the second month following receipt of the invoice.
Example 1 – valid invoice received on 1st July would be due for payment on 30th September (91 days)
Example 2 – valid invoice received on 31st July would be due for payment on 30th September (61 days)

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

No

Maximum contractual payment period agreed

91 days

Where we enter into a competitive tender process, payment terms forms part of the negotiation that would applied to the contract. Currently we do not currently have different terms based on the size of the company.

Full purchase order terms and conditions can be found within our website - https://corporate.thameswater.co.uk/Supplier-Enquiries

Any other information about payment terms

N/A

Dispute resolution process

Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address:invoiceresolution@thameswater.co.uk

In the event of specific dispute, the supplier should contact the individual who is the main point of contact as identified on the purchase order. Payment will not be made until the dispute is resolved.

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