AG SERVICE COMPANY LIMITED
Company number: 07299444
Reporting period:
1 November 2022 to 30 April 2023
Report filed on:
30 May 2023
Approved by:
John Joyce
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 11%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
AG Service Company shall pay the charges (excluding any disputed amounts) for trade suppliers within 30 days of the receipt of an accurate and valid VAT invoice, unless agreed otherwise with a trade supplier. An accurate and valid invoice is one that has been approved for payment and entered on to the payment system.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is a disagreement, nominated representatives of AG Service Company Limited and the supplier shall negotiate and settle the disagreement. If there is no settlement within 14 days, the matter is referred to the Managing Partner and Managing Director of both parties. If settlement is still not reached within a further 14 days of such referral, the matter may be referred to the courts.
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