VWS (UK) LTD
Company number: 00327847
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
17 February 2021
Approved by:
Ian Heggie
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 80%
- in 61 days or more: 6%
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
60 days
Standard payment terms
Our standard payment terms are to pay undisputed invoices 30 days following the month of invoice.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the first instance, all queries regarding payment of invoices should be directed to the Accounts Payable Team at vws.ap@veolia.com.
We will always provide explanations for delayed payment and indicate what actions the supplier needs to carry out in order to expedite payment.
In common with all businesses, we carry out a range of checks on all invoices against a number of criteria in order to ensure that the invoice is valid and correct and so qualifies to be paid within terms as an undisputed invoice.
If an invoice fails to pass all criteria we will advise the supplier as soon as possible, explain the nature of the error/query/failure and explain the corrective action that we require to bring the invoice to undisputed status and allow settlement to proceed in a timely manner.
If a supplier feels that they cannot resolve the issue with the Accounts Payable Team and needs to engage with a more senior representative, then the supplier will be directed to the relevant Business Unit Financial Controller within VWS (UK) Limited.
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