CLARANET LIMITED
Company number: 03152737
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
20 January 2022
Approved by:
Nigel Fairhurst
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 42%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 52%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
70 days
Standard payment terms
Terms are defined by the vendor at the commencement of the services provided
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
85 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
discussions are help between the company and the supplier to identify the dispute with the invoice. The supplier will either provide additional information to support the amount, or if there is an error, issue a credit note. The process can take several months and this impacts the days taken to settle the original invoice, which then shows as being paid significantly late
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 Fair 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