PAY.UK LIMITED
Company number: 10872449
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
31 January 2022
Approved by:
David Pitt
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 18%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The standard contractual length of time to pay invoices is (a) within 30 business days of receipt of the invoice or (b) within 45 business days of receipt of the invoice (the former being more common).
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Supplier complaints should be directed to the business area who owns the relevant contract. Finance should then be notified of the complaint. Finance should investigate the complaint to understand whether there is merit in the complaint and where possible resolve the complaint. If the complaint cannot be resolved, legal should be engaged to provide support.
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