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LONDON EV COMPANY LIMITED

Company number: 08357576

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 20 July 2018

and approved by Geoff Dong

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 38%
• in 31 to 60 days: 42%
• in 61 days or more: 20%

Invoices due but not paid within agreed terms: 89 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days from end of month in which the invoice is received

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

180 days

Extended payments relate to tooling and capital development projects in conjunction with partner supplier on a staged completion and commissioning basis.

Any other information about payment terms

N/A

Dispute resolution process

The business process for resolving payment / invoice disputes starts by contacting the Accounts Payable team.

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