SYNERTEC LIMITED
Company number: 03717583
Reporting period:
1 April 2022 to 30 September 2022
Report filed on:
27 October 2022
Approved by:
Craig Richmond
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 22%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
Synertec’s standard payment terms are 30 days from invoice date for correctly issued and valid invoices. To ensure prompt payment, supplier invoices should be emailed to pl_invoices@synertec.co.uk.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Synertec aims to work closely with its suppliers to ensure all queries and disputes are resolved quickly, and all invoices are paid in a timely manner. All invoice pricing and volume disputes are raised promptly by Finance with the Facilities Team in the first place. The Facilities Team then ensure a swift investigation and efficient resolution. Any unresolved disputes are escalated within the Finance team and then to Executive Management if 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 Fair 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