ELECTRA PRIVATE EQUITY PLC
Company number: 00303062
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
25 October 2018
Approved by:
Gavin Manson
Payment statistics
Average time taken to pay invoices: 10 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 4%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
30 days
Standard payment terms
Electra Private Equity PLC, as standard, pays all its suppliers within 30 days upon receipt of invoice. Variations to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Dispute resolution process: a query, dispute or difference arises between Electra Private Equity PLC and its suppliers are resolved by the accounts payable team. If required, the dispute can be escalated to a senior representative who shall use their reasonable endeavours to resolve the dispute within 30 days of the date on which such dispute was referred to them. For Electra Private Equity PLC, the escalation point would be the Group Financial Controller. Electra currently has minimal disputes related to payments as a result of continued contact and a good working relationship with its suppliers. Electra pays within 30 days with the only exceptions being items on dispute. Electra reviews supplier contracts to ensure payment terms and dispute mechanisms meet the needs of the business.
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