GOV.UK
COUNTRYWIDE PRINCIPAL SERVICES LIMITED
Company number: 01707341
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 28 January 2022
and approved by Richard Twigg
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 18%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 34 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
The Countrywide Group has several standard payment terms for qualifying contracts. These range from 7 days to 60 days from receipt of invoice depending on the category of supplier. We make weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
Yes – As the Covid crisis lifted the Group regularized all payment terms back to pre Covid levels
Were suppliers notified or consulted about these changes before they were made?
Yes – via email direct to supplier
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, invoice number, invoice date and payment instructions, as well as the Countrywide point of contact who requested the goods or services. Invoices should be issued electronically to cwea.payables@countrywide.co.uk. Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.
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