VIRGIN MOBILE TELECOMS LIMITED
Company number: 03707664
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
28 July 2023
Approved by:
Patricia Cobian
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%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Payment terms are agreed with suppliers as part of contract negotiations. Our standard terms are 30 days from the receipt of a valid invoice or the receipt of a valid application for payment. On receipt of a valid invoice these invoices are included in a weekly payment run as they fall due.
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
30 days
Suppliers to Virgin Mobile Telecoms Limited will all have negotiated contracts and our standard terms are 30 days from the receipt of a valid invoice, with an average time to pay for Virgin Mobile Telecoms Limited of 30 days.
Any other information about payment terms
Our suppliers are paid via a weekly payment run which is pulled to cover the week in advance, thus ensuring suppliers should not be paid late.
Dispute resolution process
At Virgin Mobile Telecoms Limited our aim is to resolve invoice queries or disputes in a timely manner and ensure payment are made at the earliest opportunity. If you have a query regarding the payment date or an invoice dispute then the best way to contact us is to raise a query on our Purchase to Pay (P2P) Query Tool https://vm-supplier.custhelp.com. The P2P Team will be able to resolve most queries and can liaise with our internal business contacts on your behalf. More complex disputes may need the business contacts to provide feedback directly. Upon resolution of any disputes or queries if the invoice has become due it will be settled 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 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