SPIRIT ENERGY RESOURCES LIMITED
Company number: 02855151
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
29 January 2021
Approved by:
Dennis Jones
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 35%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
We have standard payment terms of 30 days from date of receipt of invoice, but the procurement organisation allows for shorter payment terms for smaller suppliers during the contract negotiation process.
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
To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number invoice number, invoice date and payment instructions, as well as the Spirit Energy point of contact who requested the goods or services. Invoices should be issued electronically to Spirit.Energy@boxit.co.uk Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.
Dispute resolution process
Any disputes the suppliers should contact their specific contact in Accounts Payable spiritenergyap@spirit-energy.com. The Accounts Payable team will consider the complaint and respond accordingly.
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