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HOTELPLAN LIMITED

Company number: 00350786

Reporting period:
1 November 2018 to 30 April 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 Andrew Stewart

Payment statistics

Average time taken to pay invoices: 27 days

Invoices paid:

• within 30 days: 69%
• in 31 to 60 days: 25%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 21 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

45 days

Standard payment terms

Hotelplan’s standard payment terms state that payment of third party invoices for goods and services will be made within 30 days of receipt of a correct, undisputed and properly due VAT invoice, unless otherwise agreed in writing by a duly authorised representative.

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

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

Hotelplan endeavour to resolve all disputes in a fair and timely manner with their valued partners. Disputes are resolved by discussion and agreement with a supplier and are typically managed by the dedicated accounts payable team with the option of a further review by the CFO should the supplier remain dissatisfied.

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