GOV.UK
RANDSTAD SOLUTIONS LIMITED
Company number: 02389033
Reporting period:
1 January 2021
to 30 June 2021
This report was filed on 30 July 2021
and approved by David Bruce
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 15%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
90 days
Standard payment terms
The standard contractual length for time of payment of invoices is 60 days from the date of the invoice, however payment terms will vary depending on the supplier type, the spend type, the contractual obligations and the overall contractual negotiation.
Our payment terms can be found in clause 8.5 of our standard terms:
“In consideration of the supply of Goods and/or Services by the Supplier, Randstad shall pay valid and accurate invoices correctly rendered and accompanied by the information specified in clause 8.6, subject always to clause 8.7 below within 60 days of the date of receipt to a bank account nominated in writing by the Supplier.”
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
For workers providing services via their own limited company, payment terms are between 0-7 days from receipt of an authenticated record confirming hours worked.
Intercompany payment terms are set to 0 and intercompany payments constitute the majority of invoices paid outside terms
Any other information about payment terms
N/A
Dispute resolution process
A copy of our complaints policy is available on request from accounts.payable@randstad.co.uk
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.
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