HILL & KNOWLTON LIMITED
Company number: 00953243
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
25 October 2018
Approved by:
MARO CONSTANTINOU
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 22%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Hill and Knowlton Ltd standard payment terms are 60 days based on receipt of a valid invoice.
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
60 days
N/A
Any other information about payment terms
Whilst Hill and Knowlton Ltd standard terms are 60 days from end of month following receipt of invoice, to help our freelancers and small contractors, we have an exception process to set these up to pay between 14 and 30 days
Dispute resolution process
Hill and Knowlton Limited have a defined dispute resolution process to ensure that all supplier invoices are processed as efficiently as possible.
Suppliers are provided with details of the issues that may affect the processing of their invoices and assistance by providing guidance on what is to be provided on their invoices to ensure payment can be made in a timely manner.
The Accounts Payable team offers suppliers support through to query resolution and can be contacted via a dedicated e-mail address or phone number. All invoices that are in query are logged and if unresolved at the time of supplier payment, details of the reasons for payment delay are communicated to the relevant suppliers
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