GOV.UK
AFFINITY WATER LIMITED
Company number: 02546950
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 29 October 2018
and approved by Stuart Ledger
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 39%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 49 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Some suppliers are due payment on receipt of invoice and therefore the shortest payment period is 0 days
The main standard payment terms are the 30th day of the month following of invoice
The longest standard payment period is the end of the month following 60 days from invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
91 days
The longest standard payment period is the end of the month following 60 days from invoice, so the maximum is therefore 91 days from invoice.
Any other information about payment terms
N/A
Dispute resolution process
If there is a dispute on an invoice, the Accounts Payable team will contact the person who raised the Purchase Order and the Supplier and liaise with them to try and resolve the dispute. If Accounts Payable cannot resolve it, the invoice will be returned to the Supplier as unpaid and the matter will be referred to the Category Manager for their assistance. A meeting then will be set up between the Supplier, Category Manager and Accounts Payable. Once the dispute is settled, the invoice will be paid 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 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.
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