DARWIN GROUP LIMITED
Company number: 05395228
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
30 July 2024
Approved by:
Jonathan Collins
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 58%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard terms are 30 days from end of month
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
90 days
Maximum terms are 60 days from end of month of invoice
Any other information about payment terms
No further comment provided
Dispute resolution process
Darwin Group values its suppliers and actively seeks to ensure prompt payment to reduce the risk of invoice rejections. We work together with our partners to ensure errors are resolved before payment is due and where this is not possible ensuring the supplier is fully aware of the issue. Any disputes are discussed in the first instance with the members of the accounts payable and credit control departments. Where a dispute needs to be escalated it can be done so via emailing ap@darwingroup.co.uk Root cause analysis of invoice accuracy ensures Darwin Group is striving to improve performance in this area.
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