ITS TESTING SERVICES (UK) LIMITED
Company number: 01408264
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 21 July 2023
and approved by Ross McCluskey
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 42%
- in 61 days or more: 30%
Invoices due but not paid within agreed terms: 80 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
The company does not use standard payment terms but has preferred payment terms of 60 days when negotiating qualifying contracts.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Invoice disputes should be referred, in the first instance, to the individual in the company who was responsible for procuring the goods or services in question. If this cannot be resolved, typically the parties are obliged to escalate the dispute to senior representatives of the parties who shall use their reasonable endeavours to resolve the dispute in good faith.
Once resolved the invoice will go on the payment run in accordance with payment terms. If resolved after payment due date the invoice will go on the next payment run.
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