HOLLIS GLOBAL LIMITED
Company number: 13400429
Reporting period:
1 November 2023 to 30 April 2024
Report filed on:
5 June 2024
Approved by:
Ian Thompson
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 48%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 66%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Hollis has adopted a 30 day standard payment period.
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
If any claim or dispute arises under or in connection with these payment terms, the Parties will attempt to settle such claim or dispute by negotiation in accordance with the procedure set out in this clause 4.
4.1.1. Either Party may serve upon the other written notice referring a dispute arising under payment terms for resolution in accordance with this clause 4.
4.1.2. The Parties shall use commercially reasonable efforts to raise any disputes before any invoices relating to the goods or services in dispute become due.
4.1.3. A representative of each party shall meet in good faith within 15 business days of the notice referred to in clause 4.1.1 to resolve the dispute.
4.1.4. Nothing in this clause 4 shall prevent a Party from applying to any court of competent jurisdiction for injunctive or other urgent relief to protect its legitimate interests.
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