TC FACILITIES MANAGEMENT LIMITED

Company number: 02567667

Reporting period:
1 April 2018 to 30 September 2018

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This report was filed on 30 October 2018

and approved by Daniel Jacobs

Payment statistics

Average time taken to pay invoices: 65 days

Invoices paid:

• within 30 days: 17%
• in 31 to 60 days: 47%
• in 61 days or more: 36%

Invoices due but not paid within agreed terms: 34%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

45 days end of month

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

1095 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If there is a dispute between TC Facilities Management (TCFM) and a supplier, TCFM would contact the supplier in question to notify them of the invoice and the amount in dispute. TCFM would then work with the supplier to understand why the disputed amount had arisen, by seeking more information in terms of costings or quotations provided to the requestor within TCFM. The aim would be to reach a mutually agreeable solution between both parties, whether that be either full payment of the supplier invoice, partial payment or full or part credit.

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