CITY FACILITIES MANAGEMENT (UK) LIMITED

Company number: SC092623

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 24 July 2024

and approved by Stuart Telfer

Payment statistics

Average time taken to pay invoices: 83 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 38%
• in 61 days or more: 47%

Invoices due but not paid within agreed terms: 23%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

90 days

Standard payment terms

Our standard payment terms are to pay undisputed invoices for supply of pre planned services 30-60 days from the end of the month of invoice receipt and to pay undisputed invoices for supply of goods and reactive services 60 days from the end of the month of invoice receipt. We also operate shorter payment terms for a small number of labour only suppliers.

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

90 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

In the first instance, any queries regarding payment of invoices should be directed to the Accounts Payable Team. We will always endeavour to give legitimate and complete explanations for delayed payment and indicate what action the supplier needs to complete in order to expedite settlement. In common with all businesses, we carry out a full range of checks on all invoices against a number of criteria to ensure that the invoice is valid and correct and therefore deserves to be paid within terms as an undisputed invoice. If an invoice fails to pass all criteria we will advise the supplier as soon as possible, explain the nature of the error/query/failure and explain the corrective action that is needed to bring the invoice to undisputed status and allow payment to proceed in a timely manner. If a supplier feels that they cannot resolve the issue with the relevant Accounts Payable Team and needs to engage with a more senior representative, then CFM (UK) Ltd offers a series of escalation contact points that can be used.

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.

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