HAMMERSON (BRENT CROSS) LIMITED
Company number: 03377460
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
25 July 2018
Approved by:
Richard Shaw
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 12%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 30 days following the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Centre Process: The main point of contact for disputes is the Shopping Centre Finance Administrator. If an invoice is disputed, the supplier will receive a call/email/letter indicating the invoice no. & reason for rejection. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. This centre follows a strict "no PO, no payment" policy & the PO no. is always communicated at point of ordering. Landlord Process: Hammerson operates a workflow system. All invoices are logged by the Purchase Ledger team and sent to the Initiator for approval. If the Initiator has a query they will contact the supplier directly to resolve. The supplier will receive a call/email/letter indicating the invoice no. & reason for rejection. The Initiator will put the invoice on "Stop". Once the query is resolved the Initiator will either return the invoice to the PL team informing them a new invoice/credit note is due or will pass the invoice on for payment.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Under umbrella of Hammerson UK Properties plc - 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