COUNTRYWIDE PRINCIPAL SERVICES LIMITED
Company number: 01707341
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
28 July 2021
Approved by:
Richard Twigg
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 60%
- in 31 to 60 days: 25%
- in 61 days or more: 16%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
The Countrywide Group has several standard payment terms for qualifying contracts. These range from 30 days to 90 days from receipt of invoice depending on the category of supplier. We make weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
The Group has regularized payment terms with all suppliers, using a standard term of 30 days unless otherwise contractually agreed.
Were suppliers notified or consulted about these changes before they were made?
The Group has regularized payment terms with all suppliers, using a standard term of 30 days unless otherwise contractually agreed. To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, invoice number, invoice date and payment instructions, as well as the Countrywide point of contact who requested the goods or services. Invoices should be issued electronically to cwea.payables@countrywide.co.uk. Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For any disputes the supplier should first contact the Countrywide Accounts Payable Team via email at cwea.payables@countrywide.co.uk. The Accounts Payable team will consider the complaint and respond accordingly. If you believe the dispute has not been resolved satisfactorily, you may escalate the dispute by contacting your relationship contact.
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