TRAVELODGE HOTELS LIMITED
Company number: 00769170
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
24 July 2019
Approved by:
Joanna Boydell
Payment statistics
Average time taken to pay invoices: 61 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 46%
- in 61 days or more: 38%
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
31 days
Longest standard payment period
90 days
Standard payment terms
Travelodge's standard payment terms is to pay all undisputed invoice by the end of the second month following the month in which the invoices are received. For example undisputed invoices from suppliers on 1st May , 12th May and the 31st May respectively will all be paid and the end of July.
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
91 days
If our standard payment term is not acceptable to a particular supplier the request will be reviewed and agreed between the parties on a case by case basis.
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is any issue with a suppliers invoice (e.g. the quantity of purchase does not match our records) the issue will be logged in our accounts system and the relevant department will have the responsibility to investigate and resolve the issue. The turnaround time for resolving invoice disputes will depend on the nature of the query and the response time from suppliers and the relevant departments.
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