COMPARE THE MARKET LIMITED
Company number: 10636682
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 26 July 2023
and approved by Dominic Platt
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 72%
- in 31 to 60 days: 17%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
our most common standard payment terms are 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
Our purchase ledger team is responsible for identifying and resolving any disputes which may arise between the Compare The Market and our suppliers. If a supplier has a dispute or a complaint, then in the first instance they are to contact the Compare The Market by either telephone or email and direct their enquiry to the purchase ledger team
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