TELENT TECHNOLOGY SERVICES LIMITED

Company number: 00703317

Reporting period:
1 October 2020 to 31 March 2021

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This report was filed on 29 April 2021

and approved by John Kimpton

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

• within 30 days: 82%
• in 31 to 60 days: 12%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 17%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Telent Technology Services Limited does not have standard payment terms, these are set in negotiation with our suppliers. Within our Infrastructure Services business unit, payment terms range from 0 to 30 days for subcontractors, reflecting their size and the nature of the work carried out. These subcontractor payments make up circa 65% of the overall supplier payments made by the Company. The remainder of payments are made to suppliers with payment terms ranging from immediate to 90 days.

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

The only payment term changes within the reporting period relate to a small number of changes to payment terms for certain suppliers, negotiated specifically with those suppliers.

Were suppliers notified or consulted about these changes before they were made?

All changes were communicated with the supplier before being made.

Maximum contractual payment period agreed

90 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Telent Technology Services Limited is committed to resolving any disputes with suppliers as part of the following process: - Mediation between the Account and Project managers with the supplier, to understand the nature of the dispute with view to proposing required solution, - Commercial and Procurement teams are consulted and/ or involved as required, and - If no resolution is achieved then senior management is consulted to explore any further solutions.

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