SMART PENSION LIMITED
Company number: 09026697
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
28 July 2023
Approved by:
Eoin Corcoran
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 33%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Standard payment terms are 30 days from dates of supplier invoice apart from contractors which is 14 days from invoice date. If the supplier invoice terms dictate anything different to the above, they are treated on an ad hoc basis.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
There is a dedicated email address for all invoices, statements and queries. This email address is constantly monitored and we aim to respond to a supplier query within 3 working days.
This email address is on purchase orders and remittances.
Next steps depend upon the nature of the query and would involve liaison with other departments as and when necessary.
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.
Yes
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