Company number: 02334308
and approved by Gary Thornton
Average time taken to pay invoices: 52 days
Invoices paid:
Invoices due but not paid within agreed terms: 55%
0 days
60 days
The Company aims to pay all correct invoices received in accordance with the individual payment terms agreed with each supplier, provided that a valid purchase order number has been quoted, and originator approval has been received by the Finance Team. Where no such payment terms have been agreed, invoices default to the maximum payment terms of 60 days end of calendar month. Subcontractor payment terms are agreed as part of contractual negotiations and reflect the terms of the main contract. Certificates for Payment are issued in line with the contractual Valuation timetable, and are subject to a valid Application for Payment being received from the Subcontractor within the Valuation period.
Answer not provided
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60 days
No further comment provided
N/A
The Finance Team collate all new invoice disputes and informs the accounting function of the supplier in order to provide the supplier with a single point of contact. The Finance team will actively seek to resolve the query, bridging the relationship between supplier and the business, to quickly resolve the disputed invoice. Monthly statement reconciliations are carried out across all supplier accounts to ensure that all liabilities are captured.
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.
No
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
No
No