GOLD MEDAL TRAVEL GROUP LIMITED
Company number: 01376076
Reporting period:
1 October 2018
to 31 March 2019
This report was filed on 12 June 2019
and approved by Andrew Morris
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 4%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 14 %
Payment terms
Standard payment period for qualifying contracts
7 days
Standard payment terms
Flights and cruises are paid for upfront.
Ground invoices are paid up to 30 days upon the customer arriving at their destination.
Overhead invoices are paid on 30 days of invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Accounts payable teams work directly with suppliers to resolve any issues. Once resolved, payment is made on the next payment run.
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