INCENTIVE FACILITIES MANAGEMENT LIMITED
Company number: 04324546
Reporting period:
1 April 2021 to
30 September 2021
This report was filed on 25 April 2022
and approved by Paul.Dunkley@incentive-fm.com
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 47%
- in 61 days or more: 22%
Invoices due but not paid within agreed terms: 79%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Incentive FM's standard payment terms are 60 days from date of invoice. In some cases, different payment terms are set up after discussion with suppliers
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
60 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
Incentive FM has a dedicated Accounts Payable team that deal with supplier queries daily through telephone calls and via e-mail. Any disputes that cannot be solved by these means are raised to the AP Manager and beyond that to Finance Director level. Any complaints are also handled by the AP Manager who will follow up.
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.
Yes
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