BETA This is a new service – your feedback will help us to improve it.

TOWER RESEARCH CAPITAL EUROPE LIMITED

Company number: 06005750

Reporting period:
1 January 2023 to 30 June 2023

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 18 July 2023

and approved by MARCO BRAGAZZI

Payment statistics

Average time taken to pay invoices: 5 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 2%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The maximum payment period specified in a qualifying contract during the reporting period is 30 days. There may be exceptions to this where the suppliers expect payment on delivery of the invoice. These would be agreed up front with suppliers

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

During a dispute process the accounts payable ("AP") team would liaise with the related department in the firm that authorised the procurement of the service in the first instance. It is that department that communicates directly with the supplier in question to discuss and resolve the dispute. The majority of qualifying contracts are managed by the corporate services team and that team works closely with the AP to resolve any disputes with supplier invoices. Once the query has been resolved, the AP team will release the relevant payment or the supplier will issue a credit note.

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