INCOMMUNITIES GROUP LIMITED
Company number: 04221767
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
30 October 2018
Approved by:
Geraldine Howley
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 6%
- in 61 days or more: 2%
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
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Payment terms are 7,14,21,28,30 days. 63% of suppliers are on 30 days terms and account for 51% of the total payments value. 35% of all other suppliers are on 7 or 14 day terms. We also have a few suppliers who are paid by direct debit accounting for 15% of our total payments in the period. These have been excluded from the statistics.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes or complaints can be received by the supplier contact or directly to the finance team. First course of action is to investigate if any reason for delay such as good not receipted, pricing discrepancy, payment error. If any such issues are preventing payment and affecting on going service, the issue is referred to the Director of Financial Services to make a decision regarding resolution. In the reporting period there has not been any need for any further action. We endeavour to investigate immediately and to keep the supplier informed of progress. We run payment on a weekly basis, and have capacity to run ad-hoc payments as necessary and by whatever payment necessary ie BACS, same day, faster payment, to expedite resolution.
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