GOV.UK
REACH PRINTING SERVICES LIMITED
Company number: 01979335
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 19 January 2021
and approved by Simon Fuller
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 69%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The price stated in the Order is inclusive of all costs and expenses including packing and transportation costs. No variation in the price of the Goods will be accepted for any reason whatsoever unless reasonable notice thereof has been given in writing by the Seller the Purchaser and an authorised officer of the Purchaser shall have accepted the price variation in writing.
Where the Goods are subject to Value Added Tax or any other taxes the amount legally demandable is to be rendered as a separate item of account and if required by the Purchaser, the Seller shall produce bona fide evidence of the amount paid or to be paid by it in respect thereof.
The Purchaser reserves the right to deduct from any monies due or becoming due to the Seller, any monies due from the Seller to the Purchaser under the Contract
or any other contract relating to the supply of goods or services.
The price of the Goods includes the cost of insurance, packaging and carriage of the Goods unless otherwise expressly indicated in the Order.
Any discount period will be calculated from the date the invoice is received by the Purchaser.
Payment for Goods accepted by the Purchaser shall be made at the end of the month following the month of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
For contracts with suppliers, the appropriate business manager (and if appropriate senior manager) for each party will attempt to resolve the dispute (the Reach point of contact varies from contract to contract). Suppliers can also contact Reach’s dedicated accounts payable team (suppliers@reachplc.com). Such contacts would look to deal promptly with any disputes raised, in accordance with the terms of the contract, and involve other Reach managers as required.
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