KNIGHT FRANK LLP
Company number: OC305934
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
25 October 2019
Approved by:
John Diggins
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 19%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 38%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Firm policy is to pay suppliers within the agreed credit terms of 30 days. Disputed amounts may result in processing delays.
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
30 days
No further comment provided
Any other information about payment terms
Invoices are processed centrally and should be sent directly to accountspayable@knightfrank.com. Failure to do so may result in processing delays.
Dispute resolution process
If an invoice is disputed the relevant Knight Frank office that approves the invoice will contact the supplier directly to resolve the query and will then pass the invoice for payment or request a credit note.
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