GOV.UK
NATIONAL GRID COMMERCIAL HOLDINGS LIMITED
Company number: 04042700
Reporting period:
1 October 2023
to 31 March 2024
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 2 May 2024
and approved by Shiv Desai
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 46%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 6 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
42 days from Invoice 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
All disputes raised will be handled by a combination of the dedicated Purchase to Pay team, the Procurement team and the business unit working with the supplier
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.Yes – Prompt Payment Code
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.
Yes
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