QUOTIENT SCIENCES LIMITED
Company number: 05221615
Reporting period:
1 April 2019
to 30 September 2019
This report was filed on 30 October 2019
and approved by Gordon Cameron
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 57%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 76 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
45 days
Standard payment terms
Most Frequently used payment terms 30 days after invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
N/A
Dispute resolution process
The parties and their lawyers begin the case with a common commitment of creatively settling all issues. Court is considered only if parties cannot reach a reasonable settlement. They use an agreement describing how the negotiation process will work. If the parties do not settle, the lawyers can continue to represent them. The process is very flexible and can be as formal or informal as desired. For example, the cooperative negotiation agreement may be oral or in writing. The process typically involves “four-way meetings” with the parties and lawyers, though some negotiation may be directly between the lawyers or parties when appropriate. If parties and lawyers have a hard time reaching agreement, they may hire a mediator to help resolve disagreements. The process may take place before a case is filed in court or while a court case is pending. In some places, the court may support the process
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