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CHANNEL TUNNEL GROUP LIMITED(THE)

Company number: 01811435

Reporting period:
1 July 2023 to 31 December 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 1 February 2024

and approved by Géraldine Perichon

Payment statistics

Average time taken to pay invoices: 27 days

Invoices paid:

• within 30 days: 83%
• in 31 to 60 days: 14%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our standard payment terms are to pay suppliers within 30 days date of invoice, assuming that the invoice is sent immediately to the Accounts Payable Dpt, quoting a valid PO and that goods or services are delivered in accordance with the purchase order.
However payment terms may be negotiated on a case by case basis depending on the commercial situation.
Pay-runs are processed once a week and include any item due before the next payment run date.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Disputes are handled by the manager of the contract with the support of the Procurement Department and Legal Department if necessary.

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