WEST MIDLANDS TRAVEL LIMITED
Company number: 02652253
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
28 January 2021
Approved by:
Tom Stables
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 25%
- in 31 to 60 days: 52%
- in 61 days or more: 23%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
The standard payment terms are that the supplier will be paid within 45 days after the date in which West Midlands Travel Limited receives the invoices provided it has been supplied together with a valid purchase order number and full details of the services, including goods if relevant, delivered, including description, quantity, price and value added tax.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Supplier invoice dispute process is administered by accounts payable within West Midlands Travel Limited Shared Services Centre. In the event a dispute cannot be resolved between the Supplier and Accounts Payable the dispute us escalated to the Head of Shared Services who will take ownership of the dispute and investigate the circumstances with all parties concerned to seek to achieve an agreed resolution. If the dispute still cannot be resolved, it may be escalated to relevant individuals within the relevant business unit and, if such escalation does not resolve the dispute, the relevant resolution mechanism in the relevant supply contract will be relied on to resolve the dispute.
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