VERITAS ASSET MANAGEMENT LLP
Company number: OC392918
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 29 January 2020
and approved by Richard John Grant
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 14%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 20 %
Payment terms
Shortest standard payment period
10 days
Longest standard payment period
30 days
Standard payment terms
WE RUN A WEEKLY PAYMENT PROCESS WHERE INVOICES RECEIVED WITHIN THAT WEEK ARE REVIEWED AND ADDED INTO THE PAYMENT RUN FOR THE FOLLOWING WEEK
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
WILL ATTEMPT TO RESOLVE THE DISPUTE THROUGH NEGOTIATIONS BETWEEN SENIOR EXECUTIVES OF SUPPLIER AND CHIEF OPERATING OFFICER (MANAGING PARTNER). FAILING THIS THE DISPUTE WILL BE DETERMINED THROUGH THE APPOINTMENT OF A SINGLE ARBITRATOR TO BE AGREED BETWEEN THE PARTIES.
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