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VITAL HUMAN RESOURCES LIMITED

Company number: 05681203

Reporting period:
1 July 2019 to 31 December 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 January 2020

and approved by PAUL GILMOUR

Payment statistics

Average time taken to pay invoices: 9 days

Invoices paid:

• within 30 days: 98%
• in 31 to 60 days: 2%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 1 %

Payment terms

Shortest standard payment period

4 days

Longest standard payment period

30 days

Standard payment terms

Payments to contractors are the most significant supplier payment type by volume and these are generally paid in 8 days on receipt of correctly approved timesheet or invoice. For other transactions we agree appropriate terms of payment with suppliers and on timely receipt of satisfactory invoices payments are made to terms. Our standard terms are 30 days.

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

Disputes relating to incorrect hours or rates are dealt with at local branch level. Queries regarding deductions from pay are dealt with by the central payroll function at head office.
Other supplier disputes are managed via our Purching and Purchase Ledger departments.

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