GOV.UK
RIDGE AND PARTNERS LLP
Company number: OC309402
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 31 January 2023
and approved by Russell Cannings
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 12%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 33 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
The standard payment terms Ridge and Partners LLP apply to Sub-Consultants services are 45 days from receipt of a properly prepared and submitted invoice. For all other types supplier, we use the payment terms provided by supplier. If no terms are agreed, we default to 30 days from the receipt of a properly prepared and submitted invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
A Purchase Order is raised for the supply of goods and services, which indicates where invoices should be sent.
Properly prepared and submitted invoices are logged onto the Purchase Ledger within 24 hours of receipt. If the invoice is not properly prepared the supplier is advised of what needs to be done to correct the invoice before resubmission.
Should a dispute arise the supplier should contact the Ridge Purchase Ledger Team by telephone or email and provide details of their concerns.
If the Purchase Ledger Team cannot resolve the issues they will seek assistance from the individual within the business responsible for the ordering and approval of the goods or service supplied.
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