THE WREKIN HOUSING TRUST LIMITED
Company number: 03558717
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
26 October 2018
Approved by:
Francis Best
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 57%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 43%
Payment terms
Shortest standard payment periods
3 days
Longest standard payment period
90 days
Standard payment terms
Payment runs are completed on a weekly basis however there is just one payment run per week. The payment run takes place on a Thursday and includes all invoices due up to and including the Friday (the next day). If an invoice is due for payment any date between the Friday and the following Thursday this would be shown as overdue. Of the 43% above showing as invoices not paid within agreed terms 67% of these were paid within 6 working days of the due date.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Where non-payment is caused by invoicing inaccuracy due to incorrect pricing/quantities or the quality of goods/services provided, the person responsible for the purchase will dispute the invoice by placing it on hold. Invoices subject to a dispute will not be paid until the dispute is resolved. Suppliers are informed of any invoices held in dispute. Once the dispute is resolved the payment will be made in accordance with the agreed payment terms, unless the payment is overdue where it will be included in the next available payment run.
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