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Company number: 10594707

Reporting period:
6 April 2019 to 5 April 2020

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

This report was filed on 22 October 2020

and approved by Gary Ashby

Payment statistics

Average time taken to pay invoices: 13 days

Invoices paid:

Invoices due but not paid within agreed terms: 0 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

All Cadence service agreements specify the standard payment terms as follows: “Payment of invoices, as set out in the Schedule of Services, shall usually be made within 30 days of receipt. Should the Client refuse to pay any invoice submitted by Cadence or a disputed portion thereof, payment of the corresponding invoice/s submitted by the Service Provider or the disputed portion thereof may be withheld unless and until the dispute is resolved.”

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


Maximum contractual payment period agreed

30 days

Any other information about payment terms


Dispute resolution process

In the case of a concern, the issue will be raised with the Business Operations Analyst, for review and a resolution affected in a timely manner. Within two working days, the Business Operations Analyst will check the CRM system to see if all the time has been submitted and approved. If the data is correct on the system, then the Invoice Tracker and the finance system will be checked for human error. If at this point not resolved, within a further two working days the Finance Director responsible for initiating payments will be asked to check BACS payment details to see if there is any other information captured there that resulted in non-payment or discrepancy. Within a timely manner, but not more than two working days, the Business Operations Analyst will report back to the Supplier requesting confirmation of details as required and advising next steps. If the issue was error by Cadence when the payment was initiated, every endeavour will be made to affect a corrected payment the same day the error is discovered. If there was an issue with the Supplier's bank, Cadence will make every endeavour to affect payment within one working day of receipt of amended BACS payment details from the Supplier. Where there is a dispute in respect of satisfactory delivery by the Supplier to the end Client, every effort will be made by Cadence to resolve the issue within 30 working days of invoice date. Where such a dispute arises, Cadence undertakes that payment will only be withheld for the element of delivery under dispute.

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 – 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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?