PHARM RESEARCH ASSOCIATES (UK) LIMITED
Company number: 03247443
Reporting period:
1 January 2018 to
30 June 2018
This report was filed on 27 July 2018
and approved by Christopher Gray
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 35%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 29%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
In general, PRA has 30 day standard payment terms for suppliers, unless agreed separately by both parties. The majority of payments to investigators are normally 45 days term but there are some exceptions.
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
Maximum agreed terms for a minority of investigator payments are 90 days.
Any other information about payment terms
N/A
Dispute resolution process
PRA will endeavor to advise suppliers promptly of any disputes or reasons why an invoice will not be paid to the agreed terms. Invoices that are subject to dispute will not be paid until resolution of the dispute. Once resolved, payment will be made in accordance with the terms of this policy.
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