VIRIDOR TRIDENT PARK LIMITED

Company number: 07977364

Reporting period:
1 October 2022 to 31 March 2023

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This report was filed on 27 April 2023

and approved by Nick Maddock

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 50%
• in 31 to 60 days: 36%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 31%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

90 days

Standard payment terms

The customer shall pay each invoice which is properly due and submitted within 60 days after the end of the month of receipt by the Customer of a valid undisputed invoice (the “Due Date”).

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

The maximum contractual payment period is 90 days if the invoice were received on the date of raising, however the majority are 30 days or fewer.

Any other information about payment terms

Viridor introduced a new automated invoice process in conjunction with a new group ERP system in November 2021. This was implemented to deliver improved financial governance and improve the timeliness and response to the invoice workflow and payments to suppliers. A valid invoice reflects: • registered and approved supplier • purchase order number • includes the necessary details of goods/services, date and financial detail and sent either electronically to invoices@viridor.co.uk or by post. Whilst Viridor is not a member of the prompt payment code, we do adopt the principles of the code including: 1. paying suppliers on time – with average payment days below our standard terms 2. Clear guidance to suppliers – our terms and conditions are included within our purchase orders and on our website.

Dispute resolution process

VIRIDOR TRIDENT PARK LIMITED operates an automated invoice process. We work closely with our suppliers and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the dedicated Accounts Payable team and Transactional Services Manager who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any dispute arising that is not resolved is escalated through the finance management structure and the Executive Management team member if required.

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, 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