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TLT LLP
Company number: OC308658
Reporting period:
1 May 2017
to 31 October 2017
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 21 December 2017
and approved by Jeff Wright
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 8%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 10 %
Payment terms
Standard payment period for qualifying contracts
7 days
Standard payment terms
The standard term is 30 days, however depending on how small the business is that is supplying us, we have other agreements of payment turnaround within 7 and 14 day period from when invoice is received.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
We would ask the person who has day to day contact with the supplier and if this can't be resolved then procurement/senior management would intervene 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 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