INSIGHT 2 COMMUNICATION LLP
Company number: OC378624
Reporting period:
10 March 2019
to 9 September 2019
This report was filed on 9 October 2019
and approved by Jonathan Wass
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 13%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
75 days
Standard payment terms
75 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
Yes – New suppliers have been on-boarded with the standard terms of 75 days. Existing suppliers remain at their original terms
Were suppliers notified or consulted about these changes before they were made?
Yes – If required, suppliers were notified in writing.
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are resolved by negotiation involving the relevant parties
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.
Yes
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