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XOSERVE LIMITED

Company number: 05046877

Reporting period:
1 October 2019 to 31 March 2020

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

This report was filed on 22 April 2020

and approved by Clare Spottiswoode

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

• within 30 days: 60%
• in 31 to 60 days: 39%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 5 %

Payment terms

Standard payment period for qualifying contracts

14 days

Standard payment terms

Standard payment terms are 42 days from receipt of a valid invoice. The Company agrees appropriate terms of payment with suppliers for each Contract and we will pay invoices based on the date of submission in accordance with the relevant contract. The Company normally settles on 42 days however we do offer shorter payment periods with many of our contracts on shorter payment periods than our standard terms with especial regard to smaller companies requiring improved cash flow.

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

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

Xoserve has a dedicated team responsible for managing and paying supplier invoices on time to agreed payment terms. Initial contact point for all queries is box.xoserve.P2Pqueries@xoserve.com.

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