INTERNATIONAL POWER LTD.
Company number: 02366963
Reporting period:
1 July 2021 to
31 December 2021
This report was filed on 20 January 2022
and approved by Andrew Pollins
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 20%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 25%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
Payment terms vary between ad hoc immediate payments to 60 day payment terms. The majority of International Power suppliers are paid to 30 day payment terms
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
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Suppliers must submit their invoices quoting a valid purchase order to ensure the invoice can be processed and available for payment. Invoices must not be submitted prior to the goods/service being delivered. All disputes are managed via our Procure to Pay system with suppliers being notified of a dispute, via e-mail, as soon as the invoice is processed. We aim to resolve all disputes within 10 working days to ensure our supplier can be paid within agreed terms. This is, however, dependant, in part, on timely responses from the supplier to rectify any issues.
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.
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