FORTEL SERVICES LIMITED
Company number: 03559714
Reporting period:
1 April 2023 to
30 September 2023
This report was filed on 31 October 2023
and approved by Satvinder Nijjer
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 54%
- in 61 days or more: 34%
Invoices due but not paid within agreed terms: 14%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
15th day of the following month end of the invoice date
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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
All dispute resolutions are managed by the head of the payments section in consultation with operational managers. This process is usually completed within 30 days of the dispute coming to notice, however, this is dependent on the type of query raised
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.
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