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QUOTIENT SCIENCES LIMITED
Company number: 05221615
Reporting period:
1 April 2018
to 30 September 2018
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 30 October 2018
and approved by Gordon Cameron
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 69%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 80 %
Payment terms
Standard payment period for qualifying contracts
14 days
Standard payment terms
45 days from receipt are our standard terms
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
The company has a weekly payment run and trys to settle all outstanding invoices on the closest supplier payment run to their due date.
Dispute resolution process
The majority of disputes are settled between the person placing the order and the supplier. If the matter can not be resolved at this level then senior managers and the Finance team negotiate to resolve the matter.
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