THE RENEWABLES INFRASTRUCTURE GROUP (UK) LIMITED
Company number: 08506871
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
26 July 2018
Approved by:
Phil George
Payment statistics
Average time taken to pay invoices: 9 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
It is the Company's policy to agree appropriate terms with all suppliers for each transaction or service provided and to abide by those terms upon timely submission of satisfactory invoices. The company normally settles trade payables on 30 day terms, however variations to these terms can occur.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The company deals in a transparent, fair and professional manner and the process for resolving disputes on related payments is to attempt to form a settlement with the payment beneficiary; failure to progress this would escalate the dispute to the senior management team.
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