Company number: 00145516
1 July 2022
to 31 December 2022
This report was filed on 30 January 2023
and approved by Peter Thorn
Average time taken to pay invoices: 23 days
- within 30 days: 70%
- in 31 to 60 days: 29%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 9 %
Standard payment period for qualifying contracts
Standard payment terms
Standard Payment terms for as defined by the company's Purchasing Policy are 60 days. We commit to making payment of all undisputed sums properly due to third party suppliers within the committed pay terms basis timely submission of a valid invoice to the Accounts Payable department with relevant details such as PO number/business contact name. Few suppliers are setup with a shorter/longer pay terms based on negotiated contracts
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Payment processing is dealt with by the Accounts Payable function and suppliers can reach out to our dedicated Accounts Payable Helpdesk team at Inquiries.email@example.com with regards to any queries/dispute related to invoice payment. The queries are usually addressed within a 48 hour timeframe. In the event that they are unable to resolve the matter, the subject maybe discussed further between the supplier and relevant business service owner or finance personnel to ensure satisfactory resolution for both parties.
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?