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PRA GROUP (UK) LIMITED

Company number: 04267803

Reporting period:
1 January 2021 to 30 June 2021

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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 2021

and approved by Steven Daws

Payment statistics

Average time taken to pay invoices: 10 days

Invoices paid:

• within 30 days: 96%
• in 31 to 60 days: 3%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 4 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

PRA Group (UK) Limited has, what the company believes to be, fair and reasonable payment practices and a standard payment term of 30 days.
Some of the contracts that PRA Group (UK) Limited has with it’s suppliers include payment terms, but these vary from contract to contract.
PRA Group (UK) Limited allow, under certain circumstances, some of the commission invoices that are received to be offset against revenue payments, e.g. where this is received within an agreed amount of days.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

PRA Group (UK) Limited’s process of dealing with potential queries begins by contacting our representative who originally approved the goods or services to be provided. Some of the contracts that PRA Group (UK) Limited has with their suppliers have instructions relating to the dispute resolution process, but these vary from contract to contract. In addition, our Accounts Payable Department can assist by email or telephone, the contact details of which follow below:
Email – UK-Accounts_Payable@pragroup.co.uk, Telephone – 0208 290 7924
Should your query still not be resolved, it will be referred to our Finance Director for further consideration.
Other Payment

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