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TLT LLP

Company number: OC308658

Reporting period:
1 November 2019 to 30 April 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 4 August 2022

and approved by Daniel Spurr

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 88%
• in 31 to 60 days: 8%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 12 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our standard payment terms are 30 days unless otherwise agreed. Invoices are paid weekly via BACS payment, and include all invoices due in that given period. *COVID19* usual payment practices were impacted by the pandemic whilst we adapted our processes to a paperless environment.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Any queries relating to payment of invoices should be directed to the Accounts Payable team. The supplier may also raise any disputes directly with the person or department who ordered the goods or services. Complaints will be escalated where necessary.

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