GEOFFREY OSBORNE LIMITED
Company number: 00873093
1 October 2019
to 31 March 2020
This report was filed on 29 April 2020
and approved by Stuart Hammond
Average time taken to pay invoices: 29 days
- within 30 days: 60%
- in 31 to 60 days: 35%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 29 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Geoffrey Osborne Limited has various payment terms.
Purchase Ledger - These are agreed with suppliers as part of contract negotiations. Generally we have 30 day terms. For a small number of larger suppliers we have agreed terms of up to 60 days from the end of the month.
Subcontract ledger - these vary by framework and contract and range from 28 days to 45 days from date of application.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Disputes can be sent to the finance team (firstname.lastname@example.org) who will aim to resolve issues as quickly as possible with reference to our buying and commercial teams where necessary.
Occasionally the matter may need to be referred to a director for resolution.
In the rare circumstance where a resolution cannot be reached, other methods may be used (for example mediation, expert determination, arbitration or litigation).
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.
Yes – Prompt Payment Code and Construction Supply Chain Payment Charter
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?