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GPT SPECIAL PROJECT MANAGEMENT LIMITED

Company number: 02984211

Reporting period:
1 January 2019 to 30 June 2019

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

This report was filed on 29 July 2019

and approved by MUHAMMAD ATIF MIRZA

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 67%
• in 31 to 60 days: 25%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 38 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

40 days

Standard payment terms

Payment terms for all project work is 40 days as standard . For non project work (eg services) the payment terms vary depending on the nature of the supply and the company involved , but are typically between 0 and 30 days.

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

No

Maximum contractual payment period agreed

40 days

Any other information about payment terms

N/A

Dispute resolution process

In the event that any invoice submitted by the supplier is rejected by the Company, and the supplier disagrees with the reasons given, then the supplier shall be entitled to appeal to the Company’s Commercial Manager with a request to review the reasons for the rejected invoice. The Company’s Commercial Manager shall consider the supplier’s grounds for appeal in good faith and either uphold the original grounds for rejection of the invoice or authorize payment of the invoice. The Company’s Commercial Manager’s decision on this matter shall be final although the supplier’s rights under the Dispute Resolution clause of the agreement shall not be affected.

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