GW RESEARCH LIMITED
Company number: 03107561
Reporting period:
1 October 2017 to 31 March 2018
Report filed on:
30 July 2019
Approved by:
Adam George
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 22%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 39%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Payment terms for GW Research Limited cover a variety of different payment terms, subject to the nature of the contract and the invoice. Standard payment terms can include:
Immediate
7 Days
14 Days
30 Days
60 Days
20th day of the following month
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
No further comment provided
Any other information about payment terms
Intercompany invoices and performance have been excluded from reported statistics as these entirely relate to transactions between wholly owned group companies, and would distort performance if included.
Dispute resolution process
Invoices are matched by a dedicated Accounts Payable team on receipt, and disputed invoices are notified to the supplier. Any disputes are managed directly with the supplier and investigated to resolve them in a timely manner.
Disputes may arise due to, but not limited to, the following circumstances:
• Non-receipt of invoice
• Non-receipt of goods
• Delivered product/service does not agree to invoice
• Incomplete or incorrect information
• Incorrect address or company name
• VAT requirements
• Change of details (i.e. new bank account)
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.
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