CADENT GAS LIMITED
Company number: 10080864
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
20 April 2022
Approved by:
Anthony Bickerstaff
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 30%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
42 days
Standard payment terms
Payment is made to suppliers identified as SME on the Thursday following 30 days from generation of the invoice in our SAP Ariba system. For other suppliers payment is made on the Thursday following 42 days from generation of invoice, unless otherwise agreed through a mutual contract.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
42 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The invoicing platform has the functionality to reject with comments and actions back to the supplier, who then liaises with the purchase requisitioner to resolve any disputes for resubmission of invoice to be paid.
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 Fair 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