INTEGRATED CLEANING MANAGEMENT LIMITED
Company number: 03193989
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 31 October 2018
and approved by Alison Henriksen
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 24%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
15 days
Longest standard payment period
90 days
Standard payment terms
The standard payment terms on SAP are Y128. This is payment of invoice on the 28th of the month following invoice processing date (subject to pre-determined cut-off dates – normally 2 weeks prior to the period end). This equates to 45 days average.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Disputed invoices are managed locally by the operating unit, with challenges made direct to the supplier. Ordinarily quantity disputes are resolved by the supplier providing the necessary signed “proof of delivery” to support the invoice value.
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