Published reports

CADENT GAS LIMITED

Company number: 10080864

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

Reporting period:

1 October 2018 to 31 March 2019

Report filed on:

30 April 2019

Approved by:

Steve Hurrell

Payment statistics

Average time taken to pay invoices: 36 days

Invoices paid:

within 30 days: 37%
in 31 to 60 days: 62%
in 61 days or more: 1%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 6%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

42 days

Standard payment terms

Payment is made on the Thursday following the agreed amount of days from receipt of invoice at the invoice address provided on the purchase order

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

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

42 days

No further comment provided

Any other information about payment terms

To help small and medium sized enterprises with improved cashflow and from 1st April 2019 all identified SME's and micro suppliers terms have been amended to be paid within 30 days of invoices being received at the invoice address. Going forwards the internal Cadent process for requesting new suppliers to be created will also incorporate an SME identifier which will enable us to configure their payment terms accordingly.

Dispute resolution process

As per Cadent website: The internal Cadent requisitioner on the Purchase Order that relates identifies a requirement to place an invoice that they have received into dispute. The internal Cadent requisitioner on the Purchase Order is required to complete the “Invoice Dispute Form”, with the following details: o Invoice Number, invoice date and invoice value. o Reason for placing the invoice into dispute. o Provide confirmation of whether a full or part credit is required. o Provide clarification on actions they have taken to attempt to resolve the dispute. (Note that it is the responsibility of the internal Cadent requisitioner to inform the vendor that they are placing an invoice they’ve received into dispute). o Provide clarification of what actions they require Accounts Payable to take. The Cadent Accounts Payable team categorise the invoice (internally) as officially in Dispute, upon receipt of the “Dispute form” that relates. The responsibility then lies between all parties documented below to ensure the dispute is resolved at the earliest convenience: o Cadent Purchase Order Requisitioner. o Vendor. o Cadent Accounts Payable. Primarily it is the responsibility of the internal Cadent Purchase Order requisitioner and the vendor to resolve the dispute, however the Cadent Accounts Payable team will endeavour to contact all parties concerned on a periodic basis (at the very least weekly) to attempt to assist with dispute resolution where they can. All Utility invoices should be submitted to the third party Utility Bureau Services Company that are engaged by Cadent to act on our behalf. The third party utility bureau services company are responsible for invoice validation, placing of incoming invoices into dispute and resolution of all utility invoices that are submitted via them. Please be advised that the Cadent Accounts Payable team will only generate payment of any disputed invoices upon receipt of a dispute resolution confirmation from either the internal Cadent Purchase Order requisitioner or from the third party Utility Bureau Service provider. If the outcome of the dispute is that a full credit is received, the Cadent Accounts Payable team will process both the original invoice and the credit note, link the two transactions on the vendor account and release them for a zero value payment (so the vendor receives a remittance advice and is therefore aware that both transactions have been dealt with by Cadent). If the outcome of the dispute is that a part credit is received, the Cadent Accounts Payable team will process both the original invoice and the part credit note, link the two transactions on the vendor account and release the NET value of both transactions for payment. (Note that if the invoice is overdue by this point, payment will be generated on the next available payment run). If the outcome of the dispute is that the invoice is payable in full, the internal Cadent requisitioner will need to receipt the Purchase Order in full and the Cadent Accounts Payable team will then release the invoice for payment. (Note that if the invoice is overdue by this point, payment will be generated on the next available payment run). •For any queries/updates regarding Disputed Invoices please contact one of the following: o The Purchase Order requisitioner that’s internally responsible within Cadent o The Cadent Purchase to Pay Frontdesk team on one of the following contact details:  0845 677 7000 Option 2  box.PtP.GD.FrontDesk.SharedServices.GD16@cadentgas.com

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.

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.

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?

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