INCOMMUNITIES GROUP LIMITED

Company number: 04221767

Reporting period:
1 October 2020 to 31 March 2021

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This report was filed on 30 April 2021

and approved by Tansy Hepton

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

• within 30 days: 79%
• in 31 to 60 days: 18%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 18%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

30 days

Standard payment terms

Payment terms are 7, 14, 21, 28, 30 days. Almost all the suppliers are on 30 days terms.

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

N/A

Any other information about payment terms

N/A

Dispute resolution process

Disputes or complaints can be received by the supplier contact or directly to the finance team. First course of action is to investigate if there is any reason for delay such as goods not receipted, pricing discrepancy, payment error. If any such issues are preventing payment and affecting ongoing service, the issue is referred to the Director of Financial Services to make a decision regarding resolution. In the reporting period there has not been a need for any further action. We endeavor to investigate immediately and to keep the supplier informed of progress. We run payments on a weekly basis and have capacity to run ad-hoc payments as necessary and by whatever payment necessary, i.e. BACS, same day, faster payment, to expedite 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