GOV.UK
SERCO LIMITED
Company number: 00242246
Reporting period:
1 January 2023
to 30 June 2023
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 27 July 2023
and approved by Nazim Girnary
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 4%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 9 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days from receipt of invoice
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
During H1 2023 the purchasing card programme was relaunched which facilitates quicker payment to appropriate suppliers. The calculations reported now include purchasing card data to reflect this.
Dispute resolution process
Suppliers can contact the accounts payable team regarding payment queries at 0345 010 4000 [option 7] or contact the Serco requisitioner, information is included on the Purchase Orders.
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 – The 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.
Yes
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