GOV.UK
FOXTONS LIMITED
Company number: 01680058
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 27 January 2022
and approved by R.Harris
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 10%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 15 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Foxtons policy is to pay all suppliers within 30 days of receipt of invoice. However there are variations to these terms based on agreements made with certain suppliers in advance.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Foxtons is committed to dealing with supplier queries as quickly as possible and has a dedicated Finance Team who are reachable via phone and email. The principal point of contact is the Accounts Payable Administrator. Suppliers are required to provide corrected invoices or any such necessary information which may help resolve the matter. If the Accounts Payable Administrator is unable to resolve the dispute, then the issue is escalated to a project manager / originator of the purchase order who are then responsible for resolving the issue. The matter may also be passed up to the Group's Finance Director. Once the dispute has been resolved, the outstanding invoice(s) is paid without further delay.
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
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