SOUTHAMPTON ISLE OF WIGHT AND SOUTH OF ENGLAND ROYAL MAIL STEAM PACKET COMPANY LIMITED
Company number: 00002404
Reporting period:
1 January 2024 to
30 June 2024
!
This information is as reported by the business, and responses are in their own words.
This report was filed on 3 October 2024
and approved by F Collins
Payment statistics
Average time taken to pay invoices:
44 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 63%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms:
57%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
The business's main standard payment terms
are "30 Days End Of Month", which has been
shown above as 45 Days.
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
45 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
We value our supplier relationships. In the event of a query, the business and finance teams work with the supplier to ensure all issues are dealt with as quickly as possible.
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