Company number: 06740579
and approved by Chris Cohen
Average time taken to pay invoices: 29 days
Invoices paid:
Invoices due but not paid within agreed terms: 36%
30 days
Answer not provided
The majority of Portman's suppliers and Portman's standard terms and conditions of purchase are set to 30 days payment terms. This is stipulated in the market tenders inviting commercial proposals, although some suppliers provide longer payment terms as part of the formal negotiation to provide a more attractive commercial model. Any payment terms less than 30 days must be agreed in advance with the Head of Finance.
Answer not provided
N/A
90 days
No further comment provided
N/A
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to both party's satisfaction prior to payment being made. In the first instance, invoice queries are managed by the Accounts Payable Team. Senior Managers from both the Finance and Operations Team review follow up activities on outstanding queries each month. An escalation process is in place whereby items not satisfactorily resolved in the first instance are escalated to the Head of Finance and ultimately to the Finance Director.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No