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HAMMERSON GROUP MANAGEMENT LIMITED

Company number: 00574728

Reporting period:
1 July 2021 to 31 December 2021

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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 Himanshu Raja

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 77%
• in 31 to 60 days: 18%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Standard payment terms are 30 days following the invoice date.

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

Hammerson operates a workflow system by which all invoices are logged by the Purchase Ledger team and sent to the Initiator for approval. At this point if the
Initiator has a query they will contact the supplier
directly to resolve. The supplier will receive a phone call/email/letter indicating the invoice number and reason for rejection. The Initiator will put the invoice on "Stop". Once the query is resolved the Initiator will either return the invoice to the PL team informing them a new invoice/ credit note is due or will pass the invoice on for payment.

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.

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