XLN TELECOM LTD.
Company number: 03902543
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
28 October 2020
Approved by:
Neil Conaghan
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 53%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 61%
Payment terms
Shortest standard payment periods
4 days
Longest standard payment period
45 days
Standard payment terms
XLN Telecom Limited does not have standard payment terms. Specific payment terms are agreed directly with the supplier. XLN Telecom Limited does not change payment terms without the prior agreement of the supplier.
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
45 days
No further comment provided
Any other information about payment terms
The increase in invoices not paid within agreed terms is due to the effect of the transition from office to remote working to our payment processes, resulting in some invoices being paid late. However, processes are now in place to facilitate faster payments during remote working and so we expect our payment statistics in the next period to improve.
Dispute resolution process
The supplier relationship manager will liaise with the supplier to resolve invoice queries.
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