HARRIS FEDERATION
Company number: 06228587
Reporting period:
1 September 2021 to
28 February 2022
This report was filed on 9 March 2022
and approved by Mike Antoniou
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 29%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 7%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
Approved and authorised invoices are paid in the first available payment run. Supplier invoices should carry our Purchase Order Number as evidence of prior approval to purchase.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Disputes will be resolved between the Supplier and Procurer by reference to the approved Purchase Order documentation with escalation to the Federation Finance Team.
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, 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.
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