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IAN MOSEY LIMITED

Company number: 01441284

Reporting period:
1 March 2023 to 31 August 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 September 2023

and approved by BI Mosey

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 9%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 29 %

Payment terms

Standard payment period for qualifying contracts

23 days

Standard payment terms

The standard payment period is the contractual length of time for your business to make payments, as set out in the standard payment terms for qualifying contracts. If your business does not have standard terms, the standard payment period will be the contractual payment period in your business’s most commonly used terms for the reporting period.
And if your business uses different terms for different types of qualifying contract, you must give the periods for the different contract types, as set out in the standard or most frequently used terms for each contract type.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Invoice anomalies are notified to the supplier as promptly as possible advising that payment will be on hold until the
dispute is resolved. IML aims to resolve disputes efficiently working with the supplier to address any queries.

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.

Yes

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