WISE PAYMENTS LIMITED
Company number: 07209813
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
9 October 2024
Approved by:
Kristo Kaarmann
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 15%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
65 days
Standard payment terms
Standard is 30 days, but can differ dependant on agreement with vendors, 99% of invoices during the period were under terms that range 0-45 days.
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
69 days
Number is in days. Maximum contractual period is determined dependent of the vendor we have no set internal policy to determine this
Any other information about payment terms
N/A
Dispute resolution process
If there is a dispute with an invoice we liaise with the vendor and the relevant business to resolve the issues. The vendor would have direct contact with the AP team for payment issues, who then work with the relevant business departments to get invoice to payment stage.
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