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CAMBRIDGE & COUNTIES BANK LIMITED

Company number: 07972522

Reporting period:
1 January 2019 to 30 June 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 30 July 2019

and approved by Andrea Hodgson

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

• within 30 days: 92%
• in 31 to 60 days: 7%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 7 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our standard supplier terms are to pay supplier invoices within 30 days of having received the invoice (or from application for payment), assuming that the goods or services have been delivered in accordance with the purchase order. However, we work with our suppliers to reach payment terms that work for both them and us. Cambridge & Counties Bank Limited makes one payment run per week

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

Where we have a dispute in respect of an invoice our policy is that we will notify the supplier of its nature in writing within 30 days of receipt of the invoice. Invoices are held for payment until any dispute is resolved. Disputes are handled and resolved via Departmental Heads or Accounts Payable (Accounts@ccbank.co.uk) who have direct engagement with Suppliers.

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