GO COMPARE LIMITED

Company number: 06872284

Reporting period:
1 October 2021 to 31 March 2022

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This report was filed on 9 May 2024

and approved by Rob Tompkins

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 40%
• in 31 to 60 days: 44%
• in 61 days or more: 16%

Invoices due but not paid within agreed terms: 38%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Our standard practice is to pay within standard or otherwise agreed payment terms on receipt of a valid and accurate invoice which quotes purchase order number, and provided we are satisfied that the goods or services have been delivered or performed in accordance with the agreement with the supplier. We operate a NO PURCHASE ORDER NO PAY policy. Any invoices received without a PO are rejected back to supplier requesting a PO, with some pre-agreed exceptions

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Any queries relating to payment of invoices should be sent to Accounts Payable Team The supplier should liaise with the person who orders the goods/service who placed the order to resolve any dispute or complaint. 

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, 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.

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