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PREMIER PORTFOLIO MANAGERS LIMITED

Company number: 01235867

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 4 May 2020

and approved by Piers Harrison

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 88%
• in 31 to 60 days: 7%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 35 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

Payment terms are agreed individually with each supplier either prior to or upon commencement of a service or the delivery of goods.
The most common payment terms agreed during the period were 14 days.
Following receipt and approval of a valid invoice, those invoices are included in a payment run on either the 1st or 15th of the month as they fall due.

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

No

Maximum contractual payment period agreed

30 days

In the absence of agreed terms with a supplier our policy is to pay within 30 days of receipt of a valid invoice.

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute, the supplier is expected to contact their usual contact within the company to seek a resolution. Our aim is to resolve any dispute as quickly as possible. Disputes of a more serious nature may be escalated to a Director or the Legal team for resolution.

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