APEX HOTELS LIMITED
Company number: SC073489
Reporting period:
1 November 2017 to 30 April 2018
Report filed on:
31 May 2018
Approved by:
Averil Wilson
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 68%
- in 61 days or more: 18%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 86%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
Standard Payment terms for Apex Hotels are net monthly – payment made 30 days following the month in which the invoice is dated. The standard terms relating to travel agent’s commissions is 14 days from receipt of invoice. The maximum payment period agreed for any supplier are the standard payment terms.
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
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
In the event of a disputed invoice, the Apex Hotels staff member responsible for the relevant order will inform the supplier directly the reason(s) for the dispute. The order raiser will also notify the Apex Hotels finance team at the relevant property, who will put the invoice into “query” status on the purchase ledger until the dispute has been resolved. If a supplier has a query about an unpaid invoice they should contact accounts.payable@apexhotels.co.uk giving their supplier details, the invoice number, amount, the Apex Hotels location supplied, the Purchase Order number and the name of the Apex Hotels staff member raising the order if known.
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.
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No