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WYBOSTON LAKES LIMITED

Company number: 01122944

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 16 July 2018

and approved by Julie Ireland

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 43%
• in 31 to 60 days: 45%
• in 61 days or more: 12%

Invoices due but not paid within agreed terms: 64 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

90 days

Standard payment terms

Our standard most common terms are 30 days following invoice date although we do agree different terms with some suppliers as the end of the month following invoice date or 45 days. Some suppliers require much shorter terms and have been as short as 7 days from 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

We would put in writing our dispute to the supplier and enter into dialogue to settle the issue. We would refer to the original contract, order and proof of delivery or supply of services to back up our dispute. This has always ended in a resolution in the past.

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