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Company number: 06740579

Reporting period:
1 April 2022 to 30 September 2022

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

This report was filed on 2 November 2022

and approved by Chris Cohen

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

Invoices due but not paid within agreed terms: 47 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The majority of Portman's suppliers are on Portman's standard terms where conditions of purchase are set
to 30 days payment terms. This is stipulated in the market tenders inviting commercial proposals,
although some suppliers provide longer payment terms as part of the formal negotiation to provide a more attractive commercial model. Any payment terms less than 30 days agreed in advance with the relevant senior management

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


Maximum contractual payment period agreed

90 days

Any other information about payment terms


Dispute resolution process

The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We
seek to resolve queries as quickly as possible to both party's satisfaction prior to payment being made.
In the first instance, invoice queries are managed by the Accounts Payable Team. Senior Managers
from both the Finance and Operations Team review follow up activities on outstanding queries each
month. An escalation process is in place whereby items not satisfactorily resolved in the first instance
are escalated to the Head of Finance and ultimately to the Finance Director.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?