THAMES WATER LIMITED
Company number: 02366623
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
30 October 2019
Approved by:
Brandon Rennet
Payment statistics
Average time taken to pay invoices: 7 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
30 days
Standard payment terms
We do not have standard payment terms as the volume of transactions are very small (16 in this reporting period). The most frequently used payment term is 1 days.
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
N/A
Any other information about payment terms
We operate a weekly BACS and cheque run which includes invoices due up until the Sunday of that week.
Dispute resolution process
Invoices should be presented promptly to the address indicated on the purchase order and must contain a valid purchase order number. If invoices are non-compliant, they will be returned unprocessed, negatively impacting the payment date. Full details of what is considered a compliant invoice can be found within our website https://corporate.thameswater.co.uk/Supplier-Enquiries
We will endeavour to resolve any disputes in a fair and timely manner. In the event of specific dispute, the supplier should contact the individual who is the main point of contact as identified on the purchase order. Payment will not be made until the dispute is resolved.
Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address:invoiceresolution@thameswater.co.uk
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