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OCS GROUP UK LIMITED

Company number: 03056469

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 29 July 2018

and approved by Darryl Mansfield

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

• within 30 days: 55%
• in 31 to 60 days: 39%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 25 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

OCS Group UK Ltd standard payment terms are 30 days after month of invoice date. Our actual payment performance against this metric for the period was 31 days.

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

No

Maximum contractual payment period agreed

61 days

The maximum contractual terms are first day of the second month after invoicing month.

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute Accounts Payable cascade to the procuring business unit who resolve with the supplier directly. The invoice is then goods receipted and paid by accounts payable. Our dedicated invoicing mailbox ocsgroupukeinv@ocs.co.uk minimises delays and allows us to effectively track invoices from receipt to payment. There is a strict no purchase order / no pay policy, suppliers are instructed not to supply goods or services without a purchase order

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

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.

Yes

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