CLEAR BUSINESS WATER LIMITED
Company number: SC444366
Reporting period:
1 November 2020 to 30 April 2021
Report filed on:
14 June 2021
Approved by:
Paul Doherty
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 3%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
5 days
Longest standard payment period
30 days
Standard payment terms
The majority of supplies to the company are invoiced under industry regulated billing timetables. Under these timetables, payment terms can vary between 5 days and 30 days depending on the invoice type.
For suppliers that fall outside of the regulated supply, payment terms are 30 days.
Were there any changes to the standard payment terms in the reporting period?
In response to the Coronavirus pandemic and the resulting national lockdown, payment terms with industry regulated suppliers in England were extended. The company was permitted to pay a proportion of each applicable invoice, and defer payment of the remaining amount of that invoice until a later date. The amount permitted to be deferred was dependent on end customer receipts and was subject to a defined calculation that may be audited by the market operator. Under this deferral arrangement, all deferred amounts were repaid in full by 31 March 2021. Excluding invoices paid under the extended term arrangement, the average time to pay is 18 days and the % of payments not paid in agreed terms is 4%.
Were suppliers notified or consulted about these changes before they were made?
These changes were led by the market operator and all retailers in the non-domestic England water market were able to participate in the arrangement. The changes in payment terms applied to all regulated suppliers.
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any dispute in relation to a supplier invoice is considered and raised by the operational department who is responsible for the supplied goods or services. Disputes are usually flagged to the supplier within a week of receipt of invoice.
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