MARCHWOOD POWER LIMITED
Company number: 04229146
Reporting period:
1 July 2020 to
31 December 2020
This report was filed on 28 January 2021
and approved by Martin Beattie
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 78%
Invoices due but not paid within agreed terms: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 30 days net end of month although in some cases payment terms are shorter, where typical payment would be on direct debit, which our banking arrangements prohibit. At Marchwood Power we have one set of standard contracts with one standard for payment terms, irrespective of the type of goods/services/construction being procured and the standard terms which may exist in some of these markets. Our standard payment terms are 30 days net end of month of the invoice date. If a valid invoice is received promptly at the correct address, quoting a valid purchase order it will be included within the relevant payment run. We would only ever knowingly pay outside these terms with the prior consent of the supplier which may be required from time to time for ad hoc reasons e.g. awaiting insurance settlement monies. The correct invoicing address, which is quoted on all purchase orders is; Oceanic Way, Marchwood Industrial Park, Marchwood, SO40 4BD.
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
30 days net end of month
Any other information about payment terms
N/A
Dispute resolution process
Our standard payment terms are 30 days net end of month although in some cases payment terms are shorter, where typical payment would be on direct debit, which our banking arrangements prohibit. At Marchwood Power we have one set of standard contracts with one standard for payment terms, irrespective of the type of goods/services/construction being procured and the standard terms which may exist in some of these markets. Our standard payment terms are 30 days net end of month of the invoice date. If a valid invoice is received promptly at the correct address, quoting a valid purchase order it will be included within the relevant payment run. We would only ever knowingly pay outside these terms with the prior consent of the supplier which may be required from time to time for ad hoc reasons e.g. awaiting insurance settlement monies. The correct invoicing address, which is quoted on all purchase orders is; Oceanic Way, Marchwood Industrial Park, Marchwood, SO40 4BD.
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