SYSTEM C HEALTHCARE LIMITED
Company number: 01754990
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
29 October 2019
Approved by:
Markus Bolton
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 17%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
120 days
Standard payment terms
The company's standard payment terms are 30 days. There are also negotiated supplier agreements in place with different payment terms/practices.
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
The company has agreements where we pay suppliers within 30 days of an activity taking place (eg settlement of a customer invoice).
Any other information about payment terms
The company policy is to pay all suppliers to terms. We operate two formal payment runs a month (15th and 31st) and also additional payments to ensure we pay suppliers when due. The instances where payments are late are normally due to queries with invoices and supplier invoice management (eg slow receipt of invoices from suppliers).
Dispute resolution process
Initially the designated supplier owner in the company will work with the supplier to resolve the dispute. If this isn't resolved then the matter will be passed to our internal legal team who will work with internal management and external advisers as appropriate to resolve.
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