ACCORD-UK LTD

Company number: 00079585

Reporting period:
1 October 2019 to 31 March 2020

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This report was filed on 1 May 2020

and approved by Nadine Jakes

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 61%
• in 61 days or more: 24%

Invoices due but not paid within agreed terms: 26%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

Accord-UK Ltd uses a range of different terms which are agreed with suppliers of its goods and services. The most frequently used terms are 60 days.

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The Business operates a standard 3-way match for most goods/services (Purchase Order, Goods Receipt, Invoice). First attempt to settle a payment takes place in the Accounts Payable department via the 3 way match. If a 3 way match is not possible the end user/receiver of the goods/services are contacted by the AP department to resolve the query - at this stage the Purchasing department may also be involved. If the end user or Purchasing department cannot resolve the query and manually release the payment the supplier is contacted directly and worked with to resolve the issue. All disputes are aimed to be resolved within the contractual terms where possible. Where goods or services are provided and the process does not require a purchase order, invoices are manually released by the end user or a manager with sufficient authority. In the case of a dispute the end user would resolve with the supplier as per the standard process. Once the dispute is resolved and invoices are accepted and/or credit and new invoices received, the payment is settled. Suppliers should contact the Accounts Payable department with all queries - AccountsPayableUK@accord-healthcare.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, 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