CALOR GAS LIMITED
Company number: 00303703
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
26 January 2024
Approved by:
Thomas Dillon
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 44%
- in 61 days or more: 21%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 49%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
• Payment terms are agreed between suppliers and our purchasing department upon being set up. • Approximately 50% of suppliers are on a 30-day payment term. • Payment runs are scheduled approximately every 2-3 times a week. When an invoice falls due, it will be picked up and included on the next available payment run. • Suppliers are advised to speak to the purchasing department should they want to negotiate new payment terms. • If payment terms are changed, any current invoices awaiting payment have the due dates changed in line with the new terms.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
• Statements are checked daily for any overdue invoices. Copies are requested if they are not found in our system. Invoices awaiting authorising are chased up for status updates. • If a supplier calls/emails for invoice payment, these are chased up with whomever the invoice is sat with for authorising/receipting. Managerial input may be required if there is no response. • Queried invoices are raised with suppliers at the earliest possible opportunity via email and/or telephone. • Notes are added to invoices on our system and updated with every new communication so all staff are aware of the current status. • Invoices will remain in query until a mutual resolution has been agreed for example: a credit note raised or a breakdown of what the invoice is. • Once an overdue invoice has been authorised, these are processed in time for 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.
Yes
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