HC-ONE NO.1 LIMITED
Company number: 10257888
Reporting period:
1 October 2022 to 31 March 2023
Report filed on:
5 September 2024
Approved by:
David Smith
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 39%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
The majority (90%+) of the supply chain are trading on 30 days EOM or less. EOM (End of Month) is adopted due to the large supply base.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For any issues relating to payments a supplier has the ability to contact our central accounts payable team for an update on invoice statuses. If an invoice is in query or under review the supplier would be advised of this and given an overview of the issue at hand. If they wish to have further discussion on the issue they will be guided to the department that has raised the query to clarify. Our most common reasons for invoices in query are price variations to contracted rates, delivery status and site receipting.
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.
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