HAYS TRAVEL LIMITED

Company number: 01990682

Reporting period:
1 November 2021 to 30 April 2022

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This report was filed on 8 June 2022

and approved by Ken Campling

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 8%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 2%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

38 days

Standard payment terms

We generally do not have standard payment terms for our holidays supplier. It is the supplier who defines the standard payment terms. We have payment requests from holidays suppliers based on a certain amount of days before (packages, flights, cruises) or after (accommodation, transfers) the holiday takes place. The payment terms that we are reporting here is the difference between the date of the statement and the date of payment.

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

38 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Our supplier payments team checks internally with both our systems and branches any difference to the statement value sent by the supplier. If the supplier value is verified we pay the amount due and update our costings internally. If the supplier value is not correct, the team will get in touch with the supplier to try and resolve the query before the next statement is issued by the supplier. The sheer volume of amendments and cancellations driven by covid has led to larger query volumes & is ultimately driving our late payment % up to 1.7%

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