METROLINE WEST LIMITED
Company number: 08401654
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
31 January 2023
Approved by:
Sean O'Shea
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 43%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 22%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
The Company agrees terms of payment with individual suppliers in advance of supply and adheres to these terms provided supplier payment information is received in a timely manner and with the required supporting detail. The most frequent due date is 20 days after the month in which the invoice is rendered.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
50 days
The above is based on the most frequent terms received which is 20 days after the month in which the invoice is rendered and where such an invoice is dated the first day of the month. In this case, the invoice would be paid 50 days after that date.
Any other information about payment terms
No further comment provided
Dispute resolution process
The Company will always seek to ensure that suppliers are dealt with in a fair and reasonable manner. Its processes ensure that any queries are identified and resolved within a reasonable timescale. If a dispute does arise that cannot be dealt with by Finance personnel, the company would request that nominated representatives are appointed on both sides so that resolution can be achieved. Only after the foregoing processes are exhausted would any legal process be pursued.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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