UK POWER NETWORKS SERVICES (CONTRACTING) LIMITED
Company number: 02228168
Reporting period:
1 April 2020
to 30 September 2020
This report was filed on 26 October 2020
and approved by Basil Scarsella
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 17%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 6 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
60 days
Standard payment terms
Standard contractual terms for goods and services is 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
All PO's contain contact details of the PO creator and contact details for Accounts Payable
for invoice enquiries. Suppliers can either call the PO creator to enquire about the ordered
goods or services or call Accounts Payable to enquire about payment of invoices.
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 – The 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