CRERAR HOTEL GROUP LIMITED
Company number: 00075625
Reporting period:
27 September 2022 to 25 March 2023
Report filed on:
17 April 2023
Approved by:
TBA
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 58%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
62 days
Standard payment terms
net 30 days monthly i.e. all invoices dated in a particular month will be paid by the end of the following month.
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
62 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
No change from previous submission.
Crerar Hotel Group Ltd requires all suppliers to have a Director authorised purchase order before any goods or services are provided to the individual hotels. Disputes may still arise however, such as quantity discrepancies/pricing queries, and where this does occur the hotel that the disputed invoice relates to will raise the query directly with the supplier. There is also a dedicated accounts payable team at the Head Office whom support the hotels in all aspects of supplier relations.
The query can be raised by telephone, email or portal, depending on the suppliers preferred method.
The invoice will be sent into Head Office by the hotel, at which point the accounts payable team will place the invoice on hold on the creditors ledger until the dispute is resolved/credit note received. Once resolved the invoice will be taken off hold and paid on the next month end payment run.
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