STANTEC TREATMENT LIMITED
Company number: 01535477
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 10 October 2018
and approved by Paul Bresnan
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 61%
- in 61 days or more: 24%
Invoices due but not paid within agreed terms: 47 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
60 days
Standard payment terms
Stantec Treatment Limited does not have standard payment terms, they range from immediate to 60 days. Payment terms are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period were 45 days.
Payment runs are typically on a weekly basis by BACS.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Due to accounting period processing practices a significant proportion of the 47% of invoices paid out of terms are settled within 3 days of due date.
Any other information about payment terms
N/A
Dispute resolution process
Stantec Treatment actively seeks to resolve disputes, typically involving members of the accounts payable along with the procurement and commercial teams and where necessary members of the relevant management team. Where it is not possible to reach agreement, a number of potential dispute resolution methods (for example, mediation, adjudication, expert determination, litigation and /or arbitration) may be used.
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.Yes – Prompt Payment Code
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