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ASCENTIAL EVENTS (EUROPE) LIMITED

Company number: 07814172

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 31 January 2020

and approved by Mandy Gradden

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 13%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 35 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Our terms and conditions are 30 days from invoice date. Maximum terms are 60 days. There have been no changes to the standard payment terms during this reporting period.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

The Purchase Order requests Suppliers send invoices to a dedicated mailbox. When sent the supplier receives an auto email advising
Processing times\Processing requirement\AP contacts\3 Tier Escalation contact route if required.

For incorrectly prepared invoices suppliers are sent a rejection email within 48 hours of receipt advising the information required to resubmit for payment.

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