IMPROBABLE WORLDS LIMITED
Company number: 08070525
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
26 July 2023
Approved by:
Peter Lipka
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 13%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
The standard payment terms are 30 days from the invoice date. The company may agree different payment terms with individual suppliers on a case-by-case basis
and as appropriate.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Every effort is made to ensure that in the event an invoice is disputed, resolution is sought prior to the document being due for payment.
Payment queries can be emailed directly to finance@improbable.io
If required, issues are escalated to the business contact responsible for managing supplier relation. Where there is any written dispute on the amount of an invoice, Improbable will pay any undisputed amount and the Parties will seek to resolve that dispute as quickly as possible.
Should this not be possible and payment is impacted, suppliers are kept up to date on the progress of the invoice when queried and once resolved payment actioned on the next applicable 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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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