GOV.UK
VETPARTNERS PRACTICES LIMITED
Company number: 10084952
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 6 February 2020
and approved by Hilton Hess
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 85%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 9 %
Payment terms
Shortest standard payment period
5 days
Longest standard payment period
60 days
Standard payment terms
60 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Change of IT systems in the period resulted in payment terms being exceeded. The business expects to pay a higher proportion of invoices within terms in subsequent reporting periods.
Any other information about payment terms
N/A
Dispute resolution process
Queries are managed by a dedicated purchase ledger team.
If there is a dispute we seek to proactively contact the relevant vendor in order to resolve it. Vendor queries are usually resolved within 3 days.
We regularly review the aging of invoices to determine whether disputes are being resolved on a timely basis, seeking to prevent the build up of aged invoices and ensure that vendors are paid accurately on time.
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