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COLLIERS INTERNATIONAL PROPERTY CONSULTANTS LIMITED

Company number: 07996509

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 12 February 2020

and approved by Mark Colclough

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

• within 30 days: 68%
• in 31 to 60 days: 17%
• in 61 days or more: 15%

Invoices due but not paid within agreed terms: 15 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

General suppliers are settled against standard 30 day end of month payment terms. 70% of our ledger.
Sub-Contractor suppliers are settled on a paid when paid basis. 30% of our ledger.

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

Yes – Our standard payment terms changed from 30 days to 30 days end of month. This change was implemented due to global economical climate change throughout our industry where suppliers were settling our fees late which resulted in this adjustment in payment terms needing to be actioned.

Were suppliers notified or consulted about these changes before they were made?

Yes – E-mail communication was issued out to all suppliers housed within our Finance system.

Maximum contractual payment period agreed

999 days

Sub-Contractor suppliers are settled on a paid when paid basis

Any other information about payment terms

N/A

Dispute resolution process

Suppliers contact either the Finance department or another area of the business stating they feel an invoice is due to be settled. We commit to both internal and external stakeholders a 48 hour complaint response turnaround time in looking into the query and settlements are made upon the outcome of the original investigation/query

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