TC FACILITIES MANAGEMENT LIMITED

Company number: 02567667

Reporting period:
1 April 2021 to 30 September 2021

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This report was filed on 22 October 2021

and approved by Craig Macfarlane

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

• within 30 days: 50%
• in 31 to 60 days: 34%
• in 61 days or more: 16%

Invoices due but not paid within agreed terms: 38%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

90 days

Standard payment terms

60 days end of month

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

1095 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If there is a dispute between TCFM and a supplier, TCFM would contact the supplier in question to notify them of the invoice and amount in question. TCFM would work with the supplier to understand why the disputed amount had arisen, e.g. incorrect price/quantity or invoice made out an incorrect legal entity. The aim would be to reach a mutually agreeable solution between both parties, whether that be full or partial payment of the invoice or full or partial credit note.

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, 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