INTERPATH LTD
Company number: 13225134
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
30 April 2024
Approved by:
Ruairidh Cameron
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 17%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Interpath Ltd is the main trading entity for Interpath Advisory in the UK. To demonstrate the ongoing commitment to fair and prompt payment, Interpath Ltd operate a 30 days standard payment term policy unless otherwise agreed in writing by a duly authorised representative, so that payment of third party invoices for goods and services will be made within 30 days of receipt of a correct, undisputed and properly due VAT invoice. As part of our continuous commitment and progression we have reduced our overall number of days to pay invoices.
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
60 days
30 days is standard for all third-party suppliers except a few large suppliers which have agreed payment terms of 60 days
Any other information about payment terms
No further comment provided
Dispute resolution process
The firm has a dedicated Accounts Payable team who typically manage disputes alongside the contract stake holder. Disputes are resolved by discussion and agreement with a supplier, and the firm endeavours to resolve all disputes in a fair and timely manner.
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