GOV.UK
EXPONENTIAL-E LIMITED
Company number: 04499567
Reporting period:
1 February 2018
to 31 July 2018
This report was filed on 31 August 2018
and approved by Henry Pepperall
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 37%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 42 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are agreed when suppliers fill in the New Supplier Form. Our standard terms are 30 days End Of Month (EOM). On receipt of a valid invoice these invoices are included in a 3-times-a-month payment run as they fall due.
Were there any changes to the standard payment terms in the reporting period?
Yes – Suppliers are signing a new supplier form which states payments are due in 30 days EOM
Were suppliers notified or consulted about these changes before they were made?
Yes – The changes only affected new suppliers on-boarded to which they agreed by filling in and returning the new supplier form provided to them
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
At Exponential-e Ltd our aim is to resolve invoice queries or disputes in a timely manner and ensure payments are made at the earliest opportunity. The main point of contact for disputes is Purchase Ledger team at Exponential-e (contact details PurchaseLedger@exponential-e.com). When an invoice is disputed the supplier will be emailed specifying what is being disputed and on what basis. To resolve a dispute a supplier is required to provide missing information so that charge can be verified and approved. The burden of proof is with the supplier so if the charge cannot be proved to be valid then a payment cannot be made and full refund will be requested.
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