TAMDOWN GROUP LIMITED
Company number: 01268060
1 October 2018
to 31 March 2019
This report was filed on 30 April 2019
and approved by Sarah Darville-Downs
Average time taken to pay invoices: 63 days
- within 30 days: 6%
- in 31 to 60 days: 40%
- in 61 days or more: 54%
Invoices due but not paid within agreed terms: 18 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Our standard terms are 45 days from end of month of invoice (for suppliers and subcontractors). Terms for a limited number of subcontractors with a high labour element are 7-30 days. Several large suppliers of materials are on agreed terms of 75 days from end of month of invoice.
Invoices must be received by 5th working day following month of invoice to be paid as that month terms. If the invoice is not received by this point, then the invoice will be processed and paid to terms based on the month the invoice was received.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
If disputes arise, the parties will attempt, in good faith, to reach agreement as soon as possible. Queries with invoices are raised with the Procurement team at the point that the invoice is processed.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?