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LAMBERT SMITH HAMPTON GROUP LIMITED

Company number: 02521225

Reporting period:
1 July 2020 to 31 December 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 29 January 2021

and approved by Jason Honisett

Payment statistics

Average time taken to pay invoices: 53 days

Invoices paid:

• within 30 days: 29%
• in 31 to 60 days: 51%
• in 61 days or more: 20%

Invoices due but not paid within agreed terms: 73 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

LSH has several standard payment terms for qualifying contracts. These range from 7 days to 60 days from receipt of invoice depending on the category of supplier. We make fortnightly payment runs.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

LSH has maximum payment terms of 60 days. This varies according to category of supplier.

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, invoice number, invoice date and payment instructions. Invoices should be issued electronically to payables@lsh.co.uk or sent to Accounts Payable, Lambert Smith Hampton, 1st Floor, Greenwood House, 91-99 New London Road, Chelmsford, Essex, CM2 0PP. Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.

Dispute resolution process

For any disputes the supplier should first contact the LSH Accounts Payable Team via email at payables@lsh.co.uk . The Accounts Payable team will consider the complaint and respond accordingly. If you believe the dispute has not been resolved satisfactorily, you may escalate the dispute by contacting your relationship contact.

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