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SPARK ENERGY LIMITED

Company number: SC301188

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 4 February 2020

and approved by Vinny Casey

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 36%
• in 31 to 60 days: 56%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 35 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our standard payment terms are 30 days after receipt of invoice. We hold individual agreements with some of our suppliers for differing terms ranging from immediate to the standard 30 days, and also direct debit payments.

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

The Company has a dedicated accounts payable team, which can be reached by Email or Phone. Suppliers with invoice queries need to contact this team, and if the accounts payables ream is not able to resolve they escalate the issue to the buyer associated with the invoice. Disputes are handled by a combination of the accounts payable team and the buyer’s department who placed the order, and will be escalated to senior management if it cannot be resolved satisfactorily.

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