AMEY GROUP SERVICES LIMITED
Company number: 03744754
1 July 2022
to 31 December 2022
This report was filed on 30 January 2023
and approved by Andrew Nelson
Average time taken to pay invoices: 17 days
- within 30 days: 93%
- in 31 to 60 days: 5%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 16 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Amey Group Services Ltd has a number of standard payment terms in place which vary depending on product type, service, business unit and client. These are summarised below:
• Materials suppliers – 30 days from end of month of invoice date.
• Service Suppliers – 30 days from invoice.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
In certain circumstances, payment terms of 60 days from end of month of invoice date are negotiated with specific suppliers. This currently relates to 7 suppliers, 0.2% of our total supplier base.
Any other information about payment terms
Dispute resolution process
In accordance with good practice, we aim to validate all invoices in a timely manner with any discrepancies or queries being referred to the supplier or subcontractor for resolution or invoice correction.
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?