WEST MIDLANDS TRAVEL LIMITED
Company number: 02652253
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Chris Gibbens
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 39%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
The standard payment terms are that the Supplier will be paid within 45 days after the date on which West Midlands Travel Ltd receives the invoice provided it has been supplied together with a valid purchase order number and full details of the services, including goods if relevant, delivered, including description, quantity, price and value added tax.
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
45 days
No
Any other information about payment terms
No
Dispute resolution process
The Supplier invoice dispute resolution process is administered by Accounts Payable within the West Midlands Travel Ltd Shared Services Centre. In the event a dispute cannot be resolved between the Supplier and Accounts Payable the dispute is escalated to the Head of Shared Services who will take ownership of the dispute and investigate the circumstances with all parties concerned to achieve an agreed 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 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