RENTOKIL INITIAL 1927 PLC
Company number: 00224814
1 July 2019
to 31 December 2019
This report was filed on 29 January 2020
and approved by Jeremy Townsend
Average time taken to pay invoices: 23 days
- within 30 days: 53%
- in 31 to 60 days: 34%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 26 %
Standard payment period for qualifying contracts
Standard payment terms
All payments terms are 60 days.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
In general Rentokil Initial 1927 Plc adopt a no PO no pay policy and invoices received without such would be forwarded to the requestor of the goods/services to obtain a PO number. If the requestor’s name is not available, the invoice is returned to the supplier within one day from the date of receipt. The invoice would be returned to the contact residing on the vendor card on our system or alternatively the invoice would be checked for method of receipt (post/email) to identify an email address for return. If this cannot be obtained a phone call to the credit control department would be made to establish these details and a system update would be actioned as necessary. Suppliers will be directed to their service user to obtain a PO if this is not in place/on the invoice and a request made that the amended invoice is re-submitted (confirming our email address) clearly showing the PO that they have obtained, managing the supplier expectation at this point. Email queries will be replied to generally within 24 hours of receipt. All invoices unless posted directly to the GL (authorised with approved signature by verifying against our authority matrix) must navigate the three-way match (approved PO, matching invoice & receipt). Invoices that are not in this state (but have a PO that can be identified as valid in our system) will be chased weekly with the business to approve any exceptions regarding price/receipt that may exist. Queries regarding unpaid invoices will be checked to ensure suppliers are sending their documents to the correct place (as we are a Shared Service Centre) for current queries and for future document/communication flow.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?