CARTER SYNERGY LIMITED
Company number: 00176807
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
30 July 2019
Approved by:
Susan Price
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 6%
- in 31 to 60 days: 39%
- in 61 days or more: 55%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
We have very few payment terms of 7 days from invoice date. For the majority of our invoices payment terms are either 30 days (end of month) or 60 days (end of month). For the 60 days end of month the longest payment term could be , if the invoice were dated the 1st, 90 days from invoice date. Hence 90 has been put in as our longest payment terms.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
We operate a Purchase Order based invoice system, any invoice not quoting a PO Number will not make it onto the Purchase Ledger. If we have a dispute with a supplier the purchase order requisitioner will normally go back to the supplier to make them aware of the problem. Payment will not be made until the query is settled or a credit note has been issued.
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