CLARANET LIMITED
Company number: 03152737
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
31 January 2024
Approved by:
Nigel Fairhurst
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 34%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 48%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
Terms are defined by the supplier at the commencement of service provided. However, where possible, the longest payment terms are negotiated.
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
80 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Initial discussions held between company and supplier where costs are disputed, either due to incorrect volume or price. The invoice is either agreed or a credit note issued for the difference. If disputes cannot be agreed at this point, our internal legal team contacts the supplier to agree some for of resolution. This process can take several months, resulting in the invoice being significantly overdue by the time it is paid
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