WGC LTD

Company number: 01163829

Reporting period:
1 October 2019 to 31 March 2020

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This report was filed on 30 April 2020

and approved by MELANIE TROIANO

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

• within 30 days: 43%
• in 31 to 60 days: 55%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 62%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

120 days

Standard payment terms

weekly payments are made to suppliers based on all invoices per the aged creditors report moved into the 30 day column

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

Answer not provided

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

N/A

Maximum contractual payment period agreed

120 days

No further comment provided

Any other information about payment terms

some suppliers invoice annually and the payments are made monthly bu direct debit

Dispute resolution process

any queries regarding discrepancies on invoice values are dealt with the supplier by way of correspondence in email and also telephone conversation between each parties finance teams. if resolution cannot be made then further clarification is sought via operational departments within the business where necessary with the aim to clear any disputed amounts as efficiently as possible.

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, this business has not signed up to a code of conduct or standards on payment practices.

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