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Company number: 05562058

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 Andrew Skelton

Payment statistics

Average time taken to pay invoices: 19 days

Invoices paid:

Invoices due but not paid within agreed terms: 10 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

We have excluded from the ‘Invoices due but not paid within agreed terms’ calculation, invoices that were received already past their due date. This amounts to c.5% of total invoices.

Drax Corporate standard contract payment terms are 60 days; however, terms are agreed with suppliers as part of contract negotiations.

Drax Corporate pays a number of suppliers via a credit card programme, this reduces the average time taken to pay down to 19 days.

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


Maximum contractual payment period agreed

60 days

Drax Corporate maximum contractual payment terms are 60 days after month of invoice. Payment terms are agreed with suppliers as part of contract negotiations.

Any other information about payment terms

Drax Corporate offers reduced payment terms by credit card where accepted. Payment terms are agreed during contract negotiations.

Dispute resolution process

On receipt of an invoice, Accounts Payable perform standard checks to confirm: -

•The invoice is for Drax Corporate
•We have authorised supplier details and bank account for payment
•A Purchase Order (PO) number is quoted and matches an approved order number
•The invoice details match the approved PO for quantity, price, and description of supply
•The PO has been receipted
•The invoice has not already been paid
•We have received a copy of the invoice

We target to complete these checks within 5 days of invoice receipt. If invoices are received on a timely basis and no queries arise from these checks, payment will be schedule by BACS in accordance with terms.

Where queries arise, payment will be made by BACS once these queries are resolved. We target to resolve queries within 10 days and make payment on the next scheduled BACS run.

Disputes should be sent to the following email address;
This email is monitored daily by Accounts Payable.

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.

Yes – Prompt payment code

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?