GOV.UK
GAMMA TELECOM LTD
Company number: 04340834
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 28 July 2023
and approved by Paul Maher
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 9%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 15 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Gamma’s supplier payments policy is to always pay suppliers on or before the agreed term (which will vary from contract to contract). If an invoice is fully authorised on the system, it will pull through to the next available payment run even if this is before the contractual due.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Offered by supplier without Gamma requesting
Any other information about payment terms
Gamma currently have a few suppliers who are paid via a netting agreement. The terms of these agreements are that payment can only be processed once the netting is agreed by both sides. This can result in the days taken to pay being abnormally high on some invoices and therefore influencing Gamma’s average days taken to pay suppliers.
Due to Gamma’s dispute policy whereby the disputed value of an invoice is withheld from payment until resolved, this can also result in average days taken to pay being influenced.
Dispute resolution process
Any disputes are raised with the supplier directly at the earliest opportunity. Any valid charges on an invoice are paid, with the disputed amounts being held back until a credit is received or the dispute has been resolved.
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