SPARK44 LIMITED
Company number: 07535381
Reporting period:
1 October 2019 to 31 March 2020
Report filed on:
29 October 2020
Approved by:
Marcus Waters
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 18%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are 30 days from invoice date based on receipt of a valid invoice
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
No further comment provided
Any other information about payment terms
Payments terms can vary , depending on vendor category, match pay and advance payment requirements
Dispute resolution process
This is handled on a case by case basis, starting with the Accounts Payable Department who will liaise with the buyer, who owns the commercial relationship with their supplier and is responsible for dispute resolution, but with ultimate escalation to the CFO.
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