PREMIER PORTFOLIO MANAGERS LIMITED
Company number: 01235867
Reporting period:
1 October 2020 to
31 March 2021
This report was filed on 29 April 2021
and approved by Bart Edgar
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 14%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 33%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Payment terms are agreed individually with each supplier either prior to or upon commencement of a service or the delivery of goods. The most common payment terms agreed during the period were 14 days. Following receipt and approval of a valid invoice, those invoices are included in a payment run on either the 1st or 15th of the month as they fall due.
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
30 days
In the absence of agreed terms with a supplier our policy is to pay within 30 days of receipt of a valid invoice.
Any other information about payment terms
Invoices paid outside of the agreed terms are typically marketing spend invoices which usually take a while to approve and have shorter payment terms
Dispute resolution process
In the event of a dispute, the supplier is expected to contact their usual contact within the company to seek a resolution. Our aim is to resolve any dispute as quickly as possible. Disputes of a more serious nature may be escalated to a Director or the Legal team for 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