BETA This is a new service – your feedback will help us to improve it.

WESSEX WATER SERVICES LIMITED

Company number: 02366648

Reporting period:
1 July 2022 to 31 December 2022

---

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

This report was filed on 13 January 2023

and approved by Andrew Pymer

Payment statistics

Average time taken to pay invoices: 16 days

Invoices paid:

• within 30 days: 76%
• in 31 to 60 days: 24%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 9 %

Payment terms

Shortest standard payment period

2 days

Longest standard payment period

45 days

Standard payment terms

Conditions of Contract for the Supply of Goods and Services - Payment will be made by BACS at the end of the Company’s accounting month following the accounting month of Delivery or receipt of invoice, whichever is the later.

Capital Delivery Contract Payments. Fixed AMP schedule for payments under contract types NEC3, ECC, PSC, Discrete, E Short, TDO, frameworks, Bespoke contracts and ICE.

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

No

Maximum contractual payment period agreed

45 days

Small supplier scheme (14 days Nett) - Qualification where suppliers turnover is less than the UK VAT registration threshold.

Any other information about payment terms

Alternative payment options
• 7 days - Push Pay card payments (Processed weekly/Mon)
• 30 days - Card payments (MOTO & E-Commerce)

Dispute resolution process

Any dispute arising out of or in respect of the Purchase Order may be referred in writing by either Party to a dispute resolution committee comprising the Company Representative and the Supplier Representative. Failing resolution of the dispute by the dispute resolution committee within a period of 10 (ten) Business Days of the reference to them the dispute may immediately be referred in writing by either Party for determination to the Company’s procurement team and Supplier sales manager who shall seek to reach agreement of the dispute within 1 (one) calendar month.

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