SIX DEGREES TECHNOLOGY GROUP LIMITED
Company number: 03036806
Reporting period:
1 October 2020 to 31 March 2021
Report filed on:
30 April 2021
Approved by:
Steven Mitchell
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 12%
- in 61 days or more: 34%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 59%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are between 30 and 60 days from the receipt of a valid 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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The company will notify suppliers of any invoice disputes. The company and supplier will endeavour to resolve all disputes by agreement of the parties. Once resolved, payment will be made in accordance with agreed terms.
Due to the nature of our business, there are consistently a high volume of invoices that are in dispute or under query with a supplier. Invoices that cannot be validated are pushed back to the business for resolution. In some instances, these can take many months to be resolved and often the end result is for a credit note to be issued. Until this point, the invoice will continue to show as outstanding, even when payments have been made on account.
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