GOV.UK
INTERTISSUE LIMITED
Company number: 04537324
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 30 July 2019
and approved by Paolo Barbonchielli
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 59%
- in 61 days or more: 31%
Invoices due but not paid within agreed terms: 90 %
Payment terms
Shortest standard payment period
2 days
Longest standard payment period
120 days
Standard payment terms
Payment terms are agreed with each supplier individually and may vary depending upon the nature of the goods or services provided.
Payment runs for each currency are made at the beginning and middle of each month. Typically invoices are paid on the first available payment run after their due date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
Longer payment terms are usually only agreed with suppliers of high value items such as capital equipment.
Any other information about payment terms
The statistics show a high proportion of invoices not paid within the agreed terms. This is a function of our bi-monthly (twice a month) payment runs and the majority of invoices are paid within a few days of their due date.
Dispute resolution process
Suppliers are asked to contact the Accounts Payable team with any queries. Queries that cannot be resolved by the team are forwarded to the Purchasing Department for further investigation and resolution. An escalation process exists where any unresolved issues are elevated to department Managers/Senior Management.
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