GOV.UK
LONDON UNITED BUSWAYS LIMITED
Company number: 02328561
Reporting period:
8 December 2017
to 7 June 2018
This report was filed on 6 July 2018
and approved by Howard Goodbourn
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 49%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 5 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
The preferred payment term for London United Busways Limited is the payment of invoiced amounts within 30 calendar days of which the company receives a correctly rendered invoice.
Payment terms vary across suppliers mainly based on the type of service provided and the nature of the supplier. The agreed payment terms with suppliers range from payable immediately to the longest agreed payment terms which are payable 30 calendar days of which the company receives a correctly rendered invoice. Once an individual payment term is agreed with a supplier the company will not unilaterally change the agreed payment term without the agreement of the supplier.
The company offers reduced payment terms where the supplier offers a payment terms discount.
The company publishes its standard terms of order and terms of contract at this web site addresses below www.ratpdevlondon.com/t_and_c_of_order.pdf www.ratpdevlondon.com/T&C%20of%20CONTRACT.pdf
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
Dispute resolution is documented within our standard terms of order and terms of contract at
www.ratpdevlondon.com/t_and_c_of_order.pdf
www.ratpdevlondon.com/T&C%20of%20CONTRACT.pdf
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