Published reports

ARQIVA SMART METERING LIMITED

Company number: 08682562

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2019 to 31 December 2019

Report filed on:

4 March 2020

Approved by:

Steve Fisher

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Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 78%
• in 31 to 60 days: 4%
• in 61 days or more: 18%

Late and disputed:

• payments due in the reporting period which have not been paid within the agreed period: 21%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Standard payments terms are 60 days from date of invoice

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

No

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

N/A

Maximum contractual payment period agreed

60 days

Maximun period 60 days, but in practise payments are made much quicker

Any other information about payment terms

No further comment provided

Dispute resolution process

Supplier would contact the AP function. There is an escalation process in place: AP Supervisor, P2P Manager, Head of P2P and finally Director of Finacne Operations. The process has not need to be used in the reporting period.

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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.

Yes, this business has signed up to: Prompt Payment Code

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.

Yes

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