GOV.UK
ACCORD MORTGAGES LIMITED
Company number: 02139881
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 16 July 2020
and approved by Robert Purdy
Payment statistics
Average time taken to pay invoices: 11 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 6%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Payment terms are as above unless otherwise agreed by both parties
Payment is calculated from date of receipt of a valid invoice quoting a valid Purchase Order number unless an exception has been agreed
Invoices are sent by seller direct to Finance for matching to Purchase Orders
Finance follow up with Buyers any Purchase Orders not receipted or invoices not matched to Purchase Orders
Invalid invoices are rejected back to sender
We may set off against the invoice any sums owed to us
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
Procurement team may offer improved payment terms in negotiations with sellers
Senior Manager Supply Chain has sole discretion to allocate immediate payment terms to sellers under exceptional circumstances
Dispute resolution process
Any disputes are resolved through negotiation by Procurement or Supplier Relationship Managers, any unresolved disputes may be escalated to Group Legal if required.
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