Company number: 00450103
and approved by Scott Bolton
Average time taken to pay invoices: 17 days
Invoices paid:
Invoices due but not paid within agreed terms: 21%
7 days
60 days
The company does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period are 30 days from date of invoice.
Answer not provided
N/A
60 days
N/A
Prompt Payment Code statistics : - Average time to pay in days is 28 - % of Payments 30 days or fewer 72% - % of Payments 31 to 60 Days 25% - % of Payments above 60 Days 3% - % of Payments not paid in Agreed Period 47%
The company actively seeks to resolve disputes in a timely manner. This process will involve the Accounts Payable team and where necessary the Supply Chain team, Commercial teams and Senior Management. A member of the team will contact the supplier to discuss the dispute. Supplier relationships, managed more & more in a structured way, ensure we very rarely have the need for formal dispute resolution processes. If it is not possible to reach an agreement suitable to both parties then other methods of dispute resolution may include but are not limited to adjudication, litigation etc. as determined by the companies’ legal department. This is very much seen as a last resort.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No