CITATION LIMITED
Company number: 03097504
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
27 July 2018
Approved by:
Eloise Wann
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 19%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 28%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
7 day payment terms are agreed with suppliers of temporary agency staff and most postage & courier services. Payment terms of 30 days are commonly agreed however longer payment terms, up to 90 days, are also agreed.
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
90 days
No further comment provided
Any other information about payment terms
Bi-monthly supplier payment runs are produced for payments that are due on or prior to the payment date, subject to timely receipt of the invoice. Payment due dates that occur between payment runs will be paid in the next one which is driving the % of invoices not paid within agreed terms.
Dispute resolution process
All disputes with suppliers are considered by the department who is responsible for the supplied goods or services. Disputes are usually flagged to the supplier within a week of receipt of invoice. We engage with the supplier to come to a mutual query resolution.
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