Company number: 05660877
and approved by John Hepworth
Average time taken to pay invoices: 45 days
Invoices paid:
Invoices due but not paid within agreed terms: 45%
0 days
90 days
We offer 3 payment terms to suppliers as a standard: 1. 30 Days - 2.5% Discount; 2. 60 Days - 1.0% Discount; 3. 90 Days - No Discount. We still have a number of suppliers on different terms either as a legacy or due to commercial requirement, including immediate payment, 7 days and 45 days. Work is ongoing to move these suppliers wherever possible to our standard terms.
Answer not provided
N/A
90 days
No further comment provided
Where a supplier's payment terms are very short (e.g.immediate payment or 7 days), internal processes around receipt, authorisation, matching and processing of invoices may mean that some invoices are in effect paid late. This has a negative impact on the reported % of invoices not paid within agreed terms.
Invoice queries (e.g.where the invoice does not match to the PO and GRN within pre-set acceptable tolerance) are passed to the relevant buyer to then resolve with the supplier. Our finance team have a generic e-mail address for accounts queries.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No