GOV.UK
COUNTRYWIDE PRINCIPAL SERVICES LIMITED
Company number: 01707341
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 29 July 2022
and approved by Richard Twigg
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 33%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 55 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
The Countrywide Principal Services Limited has several standard payment terms for qualifying contracts. These range from 7 days to 90 days from receipt of invoice depending on the category of supplier. We make weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
The payment days have slightly increased from last submission due to going through on shoring of a finance function from India. This transformation has caused some delays in receipt of some invoices and resulting in some delayed payments
Any other information about payment terms
Countrywide Principal Services is committed to improve payment days in second half of 2022.
Dispute resolution process
For any disputes the supplier should first contact the Countrywide Accounts Payable Team via email at cwea.payables@countrywide.co.uk. The Accounts Payable team will consider the complaint and respond accordingly. If you believe the dispute has not been resolved satisfactorily, you may escalate the dispute by contacting your relationship contact.
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