Company number: 04156317
and approved by Ian Evans
Average time taken to pay invoices: 31 days
Invoices paid:
Invoices due but not paid within agreed terms: 49%
30 days
Answer not provided
OneTrust Default payment terms for all contracts is Net 30, unless specifically negotiated otherwise
Answer not provided
N/A
30 days
No further comment provided
There are Exceptional items that cause payments to be made outside of a vendors payment terms 1. Delays in receiving invoices 2. OT Standard payment terms is Net 30 but we do receive invoices for significantly shorter periods such as Net 7, Net 14 or immediate. Depending on timing of Settlement run and Invoices going through the approval process, this can impact payment dates 3. Some invoices have milestone payment terms such as 25% payment upfront, Reporting can then show the remaining instalment as being paid late due to only having 1 due date per invoice
Disputes typically resolved between Accounts payable, the Budget holder and the vendor. On rare occasions these can involve additional stakeholders such as legal
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No