SIMON BIDCO LIMITED
Company number: 09709443
Reporting period:
1 July 2021 to
31 December 2021
This report was filed on 27 September 2023
and approved by Fiona Barker
Payment statistics
Average time taken to pay invoices: 89 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 18%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 30%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Company standard payment terms = 30 days Anything outside this must be approved during contract negotiations and the supplier must have a valid business need.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Disputes policy All disputes are raised and tracked through the AP department. These are then raised with the business owner of the supplier and payments will be kept on hold until any dispute is confirmed as settled by the business owner.
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, 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.
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