INTERSERVE ENGINEERING SERVICES LIMITED
Company number: 03044398
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Mark Goldsworthy
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 44%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 36%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are between 30 and 60 days.
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
91 days
The 91 period is an exception and occurs when invoices dated 1st of the month and the supplier is on agreed terms that are 60 days from month end.
Any other information about payment terms
No further comment provided
Dispute resolution process
Where written disputes are received they are addressed on their merits and within the agreed terms and conditions of supply following discussions between the finance and procurement teams.
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.
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