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Company number: 06994045

Reporting period:
1 July 2021 to 31 December 2021

Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 31 January 2022

and approved by Adrian Sargent

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

Invoices due but not paid within agreed terms: 11 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

Goodwood will pay all invoices at the end of the month following the month of receipt of an undisputed invoice

Were there any changes to the standard payment terms in the reporting period?


Maximum contractual payment period agreed

60 days

Any other information about payment terms


Dispute resolution process

In the event of any dispute in respect of an invoice Goodwood may withhold such disputed sum under such invoice until the resolution of such dispute in accordance with Clause 25 of the Terms and Conditions.

From T&Cs:
25.1 In the event of any dispute or difference which may arise between Goodwood and the Supplier in connection with or arising out of this Agreement, senior authorised representatives of the parties shall, within twenty (20) Business Days of a written request from either party to the other, meet in a good faith effort to resolve the dispute without recourse to legal proceedings. If the senior authorised representatives cannot reach agreement on the dispute within such twenty (20) Business Day period the matter shall be referred to the Chief Executive Officer or Managing Director of that part of the relevant party’s business which is responsible for performing the obligations of that party under this Agreement.
25.2 Neither party may initiate legal action until the above process has been completed unless either party has reasonable cause to do so to avoid damage to its business or to protect or preserve any right of action it may have. Nothing in this Clause shall be construed as prohibiting a party from applying to a court for interim injunctive relief.
25.3 Unless otherwise stated to the contrary in this Agreement, nothing in this Clause shall relieve either party from continuing to fulfil its obligations under this Agreement.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?