GAP GROUP LIMITED
Company number: 00198823
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 31 October 2018
and approved by Chris Parr
Payment statistics
Average time taken to pay invoices: 70 days
Invoices paid:
- within 30 days: 5%
- in 31 to 60 days: 35%
- in 61 days or more: 59%
Invoices due but not paid within agreed terms: 51 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Payment terms are agreed in advance with suppliers by the Procurement Team. The most common payment term in place is 30 days (end of month), however terms range from immediate payment to 90 days (end of month).
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
The maximum contractual payment period is 90 days (end of month).
Any other information about payment terms
N/A
Dispute resolution process
Supplier invoices and payments are controlled by the Accounts Payable Team at GAP Group Limited's head office at Carrick House, 40 Carrick Street, Glasgow, G2 8DA. Disputed invoices are notified to the supplier by a member of that team as soon as a discrepancy is noted, and will not be paid until the dispute has been resolved.
All invoices must display a valid Purchase Order number.
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