GOV.UK
FOCUS PHARMACEUTICALS LIMITED
Company number: 04522142
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 31 July 2018
and approved by Vikram Kamath
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 47%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 76 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
The Company follows a standard payment terms of "30 days end of the following month, in which the invoice is received". For Intercompany Vendor's the standard terms are "180 days from the date of invoice". For reporting purpose we have reported the standard terms of normal vendors.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
In case of any invoice disputes, the relevant department within the company availing the services is informed by email. The relevant department would then inform the vendor via email/phone of the nature of dispute and get it resolved. In case of disputes relating to services, the relevant department before approving the costs would inform the Vendor over an email. In case the invoice is considered to be correct, the same is internally approved and paid. For minor invoice errors, the Finance department may send an email directly to the relevant finance contact on Vendor side.
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
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