GOV.UK
LONDON EV COMPANY LIMITED
Company number: 08357576
Reporting period:
1 January 2019
to 30 June 2019
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 30 July 2019
and approved by Ian Palmer
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 32%
- in 61 days or more: 32%
Invoices due but not paid within agreed terms: 90 %
Payment terms
Standard payment period for qualifying contracts
0 days
Standard payment terms
60 Days
Were there any changes to the standard payment terms in the reporting period?
Yes – Standard terms were changed from 30 days end of month to 60 days
Were suppliers notified or consulted about these changes before they were made?
Yes – Meetings and individual discussions held with suppliers
Maximum contractual payment period agreed
120 days
Any other information about payment terms
N/A
Dispute resolution process
The business process for resolving payment / invoice disputes involves contacting the accounts payable department.
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