GOV.UK
ACCORD MORTGAGES LIMITED
Company number: 02139881
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 28 January 2020
and approved by Robert Purdy
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 28%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 44 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Accord Mortgages Limited is a wholly owned subsidiary of Yorkshire Building Society (YBS) and YBS has one payment process and policy for all its group and subsidiary companies.
Payment terms are as set out above unless otherwise agreed by both parties and/or is set out in any contract.
Payment is calculated from the date of receipt of a valid invoice quoting a valid Purchase Order number unless an exception has been agreed.
Invoices are normally sent by the supplier direct to the company or YBS for matching to Purchase Orders.
There will be a follow up with Buyers on any Purchase Orders not receipted or invoices not matched to Purchase Orders.
Invalid invoices are rejected and returned back to the supplier. Where appropriate, contractual remedies for late payment of invoices are negotiated.
We may set off against the invoice any sums owed to us, unless our contract prohibits this.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
Improved or amended payment terms may be agreed during negotiations with suppliers.
The YBS Senior Manager Supply Chain has sole discretion to allocate immediate payment terms to sellers under exceptional circumstances, subject to any contracts in place
Dispute resolution process
Disputes will be managed in accordance with any escalation procedures or contractual provisions in place or resolved through negotiation by the Group's Procurement Team or Supplier Relationship Managers and any unresolved disputes may be escalated to Group Legal if required.
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