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INCHCAPE MANAGEMENT (SERVICES) LIMITED

Company number: 00785779

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 25 July 2018

and approved by Tamsin Waterhouse

Payment statistics

Average time taken to pay invoices: 87 days

Invoices paid:

• within 30 days: 39%
• in 31 to 60 days: 31%
• in 61 days or more: 30%

Invoices due but not paid within agreed terms: 45 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The standard payment terms are calculated from the date of the invoice. E.g an invoice dated 15th Jan 2018 would be due by 15th Feb 2018.

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

No

Maximum contractual payment period agreed

60 days

In the first half of 2018, the company settled an ongoing dispute with an existing supplier. This resulted in the recognition of a credit note and the payment of 570 invoices, dated between Dec 2016 to Jun 2018.
Adjusting for this particular case,
Average time taken to pay invoices is 43 days
Invoices paid within:
30 days is 45%
31-60 days is 37%
in 61 days or more 18%.
Invoices due but not paid within agreed terms is 35%.

Any other information about payment terms

N/A

Dispute resolution process

The company has a dedicated Accounts Payable desk. They can be contacted by email or phone Monday to Friday.

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