CENTRICA BUSINESS SOLUTIONS UK LIMITED
Company number: 01874716
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
30 July 2020
Approved by:
Peter Zimmerman
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 55%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
28 days
Longest standard payment period
60 days
Standard payment terms
CBS Standard is 30 Days EoM with a small number of firms we have 60 days EoM and 2 sub contractors on 14 days
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
60 days
The maximum contractual payment terms is 60 days EoM. This varies according to product and supplier. Terms are mutually agreed at the contract negotiation or on boarding stage.
Any other information about payment terms
To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number, invoice number, invoice date and payment instructions, as well as the Centrica point of contact who requested the goods or services. Invoices should be issued either electronically to cplpl-energuk@centrica.com or be physically posted to our head office. Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.
Dispute resolution process
In the event of a supplier query they should contact the CBS Accounts Payable team via email cplpl-energuk@centrica.com with full details. The CBS Accounts Payable team will respond accordingly.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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