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DYNO-ROD LIMITED

Company number: 01046906

Reporting period:
1 January 2021 to 30 June 2021


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

This report was filed on 27 July 2021

and approved by Stuart Phillips

Payment statistics

Average time taken to pay invoices: 6 days

Invoices paid:

  • within 30 days: 100%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

We have standard payment terms of 60 days, but the procurement organisation allows for shorter payment terms for smaller suppliers during the contract negotiation process. The majority of payments made by Dyno-Rod Ltd are payments to franchisees.

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

60 days

No further comment provided

Any other information about payment terms

To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number invoice number, invoice date and payment instructions, as well as the Centrica point of contact who requested the goods or services. Invoices should be issued electronically to centrica.jewel.live@boxit.co.uk Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.

Dispute resolution process

Any disputes the suppliers should contact their specific contact Accounts Payable Group Group.accountspayable@centrica.com. The Accounts Payable team will consider the complaint and respond accordingly. Should an escalation occur an email to apescalation@centrica.com should be sent and the AP team will respond.

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