VENTRUS LIMITED
Company number: 07821367
Reporting period:
1 March 2022
to 31 August 2022
This report was filed on 13 September 2022
and approved by Gary Chown
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 78%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 34 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Invoices are paid in the next payment run after 30 days have elapsed from the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
The Trust is committed to dealing with its suppliers in a fair, honest and professional manner whilst seeking best value for the Trust. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalate in the first instance to the Head of Financial Accounting to seek a resolution.
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