TC FACILITIES MANAGEMENT LIMITED
Company number: 02567667
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
30 April 2019
Approved by:
Daniel Jacobs
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 44%
- in 61 days or more: 25%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
75 days
Standard payment terms
45 days end of month
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
1095 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is a dispute between TCFM and a supplier, TCFM would contact the supplier in question to notify them of the invoice and amount in dispute. TCFM would then work with the supplier to understand why the disputed amount had arisen, e.g. incorrect price/quantity or invoice made out to an incorrect legal entity, with the aim of seeking more information. The aim would be to reach a mutually agreeable solution between both parties, whether that be full or partial payment of the invoice or full or partial credit note.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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