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NORWOOD RAVENSWOOD

Company number: 03263519

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 15 October 2018

and approved by Abiola Yusuf

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 73%
• in 31 to 60 days: 20%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 27 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Standard Payment Term is 30 days

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

In the event of a dispute, initially the manager who purchased the good or service will contact the supplier to resolve the dispute and seek resolution of any issues.
Where it is not possible to reach an agreement, a number of potential resolution methods may be employed for example, escalating to the Director of Finance, use of mediation, adjudication, litigation and or arbitration.
Suppliers are to contact the Accounts Payment team in the first instance for all invoice submissions, invoice queries and payment disputes. The email address is AccountsPayable@Norwood.org.uk

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