Company number: 04027682
and approved by Jonathan Timmis
Average time taken to pay invoices: 68 days
Invoices paid:
Invoices due but not paid within agreed terms: 45%
30 days
Answer not provided
RB’s standard payment terms are that payment is made on the first working day after the end of the month in which falls the ninetieth (90) day after the date of receipt of the relevant invoice. We do have suppliers on payment terms which are different to the standard.
Answer not provided
N/A
180 days
Payment is made on the first working day after the end of the month in which falls the one hundred and eightieth (180) day after the date of receipt of the relevant invoice.
At the end of 2017 and beginning of 2018 we have seen short term payment delays due to the impact of organisational and system changes. As at the end of June we are seeing the payment terms compliance returning to normal levels. For invoices falling due in June 2018, 68% have been paid within agreed terms.
RB aims to resolve queries or disputes regarding invoices and payment as quickly as possible. In the first instance, suppliers should speak with their RB contact who can liaise with the Accounts Payable team. Alternatively, suppliers can contact the Accounts Payable team directly. When resolved, the invoice will be available for payment on the next standard payment run.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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.
Yes
No
No