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DE VERE COTSWOLD WATER PARK LIMITED

Company number: 03987970

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 James Burrell

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 28%
• in 31 to 60 days: 66%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 8 %

Payment terms

Standard payment period for qualifying contracts

28 days

Standard payment terms

End of month following month of invoice date i.e. end of month + 1 month

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

No

Maximum contractual payment period agreed

61 days

Any other information about payment terms

N/A

Dispute resolution process

All invoices are approved by the employee who raised the associated purchase order (“orderer”). Where there is a dispute on the invoice, this is raised by the orderer with the supplier. This is done electronically where the order was raised on our e-procurement system and by phone/email otherwise.

Any disputes that cannot be resolved between the orderer and the supplier are escalated to the central Procurement team who will investigate and manage until resolved.

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.

Yes

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?

Yes

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

Yes