Company number: 04312380
and approved by William Donovan
Average time taken to pay invoices: 53 days
Invoices paid:
Invoices due but not paid within agreed terms: 69%
0 days
90 days
Payment shall be made within 60 days of receipt of a valid invoice.
Standard payment terms were improved for suppliers so that “payment shall be made within 60 days of receipt of a valid invoice”. Previously this was “Payment shall be made at the end of the second month following the date on which goods are correctly invoiced and accepted”.
Through verbal and/or written communication with suppliers.
90 days
No further comment provided
Invoices are paid in line with contracted terms. Payment terms range from immediate payment up to 90 Days from date of invoice. 69% of invoices not paid within agreed terms equates to 186 invoices. 80 of these are items due within 14 days that on average took 34 days to pay. Agreed contractual vendor payment terms for the period were 48% Less than 60 Days, 32% on 60 Days and 19% over 60 days. In H1 69% of invoices were paid within 60 days, for Q1 it was 56% and for Q2 93%.
Disputed invoices are either emailed or posted back to the supplier and also a notification is sent to the Atos requestor. Email atos.ap.eu@mailuk.custhelp.com. The full Escalation & Dispute Resolution process is contained within section 34 of Supplier Contracts.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No