MODUS SERVICES LIMITED
Company number: 03902894
Reporting period:
1 April 2020
to 30 September 2020
This report was filed on 27 October 2020
and approved by P Francis
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 30%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
20 days
Longest standard payment period
30 days
Standard payment terms
Invoices are paid on the last day of the month the invoice is received. Provided that subcontractors invoice in line with contractual terms this honours the payment terms. Facilities Management services are invoiced 5 working days after the month end payable 15 working days after receipt of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Dispute Resolution Procedure is set out in all the major contracts.
All complaints follow the complaints procedure set up by Modus Services Limited.
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