HS1 LIMITED
Company number: 03539665
Reporting period:
1 October 2022 to 31 March 2023
Report filed on:
25 April 2023
Approved by:
Mark Farrer
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 5%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard contractual payment period is 30 days
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
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
In the event of a disputed invoice, HS1 will serve a notice of intention to withhold payment of the disputed amount before the date payment is due. The notice shall specify the amount proposed to be withheld and the grounds for withholding payment. If such a notice has been served, HS1 will pay the undisputed amount pending resolution of the disputed amount which will be discussed with the relevant HS1 contract lead.
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.
Yes
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