VPS (UK) LIMITED

Company number: 04028962

Reporting period:
1 April 2020 to 30 September 2020

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This report was filed on 6 November 2020

and approved by Richard Jones

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 43%
• in 31 to 60 days: 25%
• in 61 days or more: 32%

Invoices due but not paid within agreed terms: 78%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms for suppliers are 30 days other than contracting suppliers which are 60 days end of month of invoice.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

Maximum contractual payment period is 60 days from the end of the month of the invoice.

Any other information about payment terms

N/A

Dispute resolution process

VPS seek to resolve disputes as quickly as possible. Typically issues can be resolved through coordination between our accounts payable team and supplier credit control teams, and where necessary procurement and commercial teams are engaged to support the earliest resolution. Where resolution is still unable to be achieved senior management will be engaged.

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, 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