ARQIVA LIMITED

Company number: 02487597

Reporting period:
1 July 2017 to 31 December 2017

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This report was filed on 19 January 2018

and approved by Liliana Solomon

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 7%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 16%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard payment 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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Disputes and complaints would be initially through our accounts payable team who are able to resolve the vast majority of queries. There is an escalation route available through the Finance Manager and Head of P2P. It is extremely rare for there to be ongoing disputes and these are handled on a case by case basis. Our Procurement, Finance and Legal teams work closely to ensure these are handled efficiently and effectively.

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.

Yes, this business has signed up to: Prompt Payment Code

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