CARTER SYNERGY LIMITED
Company number: 00176807
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
31 January 2020
Approved by:
Peter Madelin
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 3%
- in 31 to 60 days: 43%
- in 61 days or more: 54%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
We have very few payment terms of 7 days from invoice date. For the majority of our invoices payment terms are either 30 days EOM or 60 days EOM. For 60 day EOM the longest payment term could be up to 90 days if the invoice is dated on the 1st of the month.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
Invoices paid outside standard terms have risen since our last report as we have undergone a major exercise to post and pay a backlog of invoices caused when we moved onto a new computer system.
Dispute resolution process
We operate a Purchase Order based invoice system i.e. any invoice not quoting a PO number will be placed in query until a valid order number is provided. At this point the purchase requisitioner will contact the supplier and attempt to resolve the query. Invoices are not registered until all queries are resolved and therefore payment will not be made until this point either.
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, this business has not signed up to a code of conduct or standards on payment practices.
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