LBG EQUITY INVESTMENTS LIMITED
Company number: 02412574
Reporting period:
1 July 2019 to
31 December 2019
This report was filed on 28 January 2020
and approved by Toby Rougier
Payment statistics
Average time taken to pay invoices: 5 days
Invoices paid:
- within 30 days: 100%
Invoices due but not paid within agreed terms: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, LBG Equity Investments Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No differentiation, contractual period agreed per supplier
Any other information about payment terms
Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting entity and paying entity Our payment statistics include some payments made by LBG Equity Investments Limited where, although we are not the contracting entity for the relevant qualifying contract, the services have been received and paid for by LBG Equity Investments Limited.
Dispute resolution process
Suppliers can raise queries with their appointed managers in the first instance. Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.
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.
Yes, this business has signed up to: Prompt Payment Code
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.
Yes
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