MWB BUSINESS EXCHANGE CENTRES LIMITED
Company number: 05512549
Reporting period:
1 January 2018 to
30 June 2018
This report was filed on 9 July 2018
and approved by Peter Gibson
Payment statistics
Average time taken to pay invoices: 84 days
Invoices paid:
- within 30 days: 59%
- in 31 to 60 days: 10%
- in 61 days or more: 31%
Invoices due but not paid within agreed terms: 90%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Net 30 days
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The main point of contact for disputes is the Accounts Payable team in the Global Services Centre. Where disputes arise over payments received by suppliers, the AP team provide the supplier with a list of the invoices paid for reconciliation purposes. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. A PO and invoice is required before payment is made.
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.
Yes, this business has signed up to: The company's ultimate parent, Regus Plc,has signed up to The Prompt Payment Code on behalf of the whole group.
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