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VIA EAST MIDLANDS LIMITED

Company number: 09903246

Reporting period:
1 April 2018 to 30 September 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 1 November 2018

and approved by Joe Keohane

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 38%
• in 31 to 60 days: 53%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 70 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

30 days

Standard payment terms

Standard payment terms are 30 days from invoice date for proper and undisputed invoices. Specific payment terms for some suppliers, e.g. utilities align with our shortest payment period.

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

We work closely with our suppliers and sub-contractors, and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the Accounts Payable team who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any disputes arising that are not resolved are escalated through the management structure.

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.

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