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PETERBOROUGH PRISON MANAGEMENT HOLDINGS LIMITED

Company number: 04350294

Reporting period:
1 April 2018 to 30 September 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 4 February 2020

and approved by Chris Field

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 21%
• in 31 to 60 days: 72%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 7 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

All invoices paid within 30 days providing they are not disputed or need to be agreed between relevant parties. SPV PFI project company which means many costs are pass-through and payment cannot be made until an agreement between our "supplier" and "customer".

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

PFI SPV company.
All significant costs are pass-throughs and therefore disputes would be resolved between the "supplier" and "customer". Finance Manager of the SPV will mediate any dispute if necessary.

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