Company number: 00635311
and approved by Graham Andrews
Average time taken to pay invoices: 31 days
Invoices paid:
Invoices due but not paid within agreed terms: 50%
1 days
60 days
At this time, we do not have standard payment terms consistently applied across our business. There is a wide range of payment terms offered by, and negotiated with, our suppliers.
Answer not provided
N/A
60 days
N/A
The date of receipt of supplier invoices is not recorded. Reported statistics are calculated from the date of invoice. Supplier receipts of payment dates are unknown. For reporting purposes, receipts of payment dates are estimates. Within our procurement programme, our intention is to introduce best practices and optimise to a suite of standard payment terms across the business. This will be supported by the roll-out of our new ERP system which will make our payment processes more efficient and effective.
Payment disputes are typically initially referred to the finance function, who will try to resolve them by agreement through discussion with the supplier. If resolution cannot be reached within a reasonable period, the matter will typically be escalated to the procurement function, who will try to reach resolution by agreement through further discussion with the supplier. As necessary, appropriate further dispute resolution mechanisms provided for in the contract will be used (i.e. reference to mediation, arbitration or litigation).
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No