DWR CYMRU CYFYNGEDIG
Company number: 02366777
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 23 October 2018
and approved by Peter Bridgewater
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 6%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
30 days
Standard payment terms
Under standard contractual terms we commit to the payment of all undisputed invoices received at Welsh Waters Accounts Payable Department either by post or electronically to Supplier.payments@dwrcymru.com, within 30 days from Date of invoice.
Were there any changes to the standard payment terms in the reporting period?
Yes –
The payment terms were changed from the 28th day of the month following the date of invoice to 30 days net from the date of invoice.
Were suppliers notified or consulted about these changes before they were made?
Yes – The standard payment terms were changed internally on 1st February 2018 and included on Welsh Waters website when revised Procurement Terms and conditions were published in April 2018. Current Suppliers were notified of the change by e-mail or letter during April and May 2018.
Maximum contractual payment period agreed
59 days
Not all contracts have been changed from old payment terms i.e. 28th day of month following date of invoice.
Any other information about payment terms
Upon renewal, contractual payment terms will be agreed to be a maximum length of 30 days. If the contractual payment terms are longer than standard terms, we are currently waiving these terms in favour of payment 30 days from date of invoice
Dispute resolution process
The authorised representative of Dwr Cymru Welsh Water has responsibility for resolution of a dispute (typically the person who ordered the goods or services).
When a dispute cannot be resolved, the issue may require escalation to senior members of both the supplier and Dwr Cymru Welsh Water.
Wherever possible, once a dispute is resolved payment should be made within one week, unless a credit note is requested, then the invoice is held until received.
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.
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