LOVELL PARTNERSHIPS LIMITED
Company number: 02387333
Reporting period:
1 July 2019 to
31 December 2019
This report was filed on 29 January 2020
and approved by Steven Breslin
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 38%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 20%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
63 days
Standard payment terms
Lovell Partnerships Limited’s subcontract payment terms are typically 35, 49 or 63 days. Payment terms to material and other suppliers are typically 30 days or 30 days from the end of the month of the invoice date
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
63 days
The maximum contractual payment period for Lovell Partnerships Limited was 63 days. These terms have been agreed with individual strategic suppliers. There have been no changes to standard terms within the period
Any other information about payment terms
N/A
Dispute resolution process
Invoice queries for Lovell Partnerships Limited should be addressed to the buyer who placed the individual order as the first point of contact and the contact details are clearly stated on the Purchase order. In the event that this should not yield a solution please request the issue to be escalated to the Procurement and Sustainability Manager
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