Company number: 01505004
and approved by Steve Brown
Average time taken to pay invoices: 58 days
Invoices paid:
Invoices due but not paid within agreed terms: 23%
30 days
60 days
Standard Payment Terms are 45 days + BACS. BACS runs are performed twice a month, ie invoices that are on 45 days are paid on the 5th or the 20th following the 45 days based on the invoice date (unless agreed as the date of receipt of invoice).
Answer not provided
N/A
60 days
No further comment provided
Improvements continue to be made in reducing payment backlogs post company integration activity. New system roll-outs and greater alignment across the business continues to deliver positive results. Our third party outsource provider services are maturing and delivering an improved and consistent level of service. Control measures have been adopted ensure payment backlogs do not resurface
All discrepancies are highlighted back to the Vendor upon receipt of the invoice. Both parties are expected to communicate to bring the query to a satisfactory conclusion. Disputed invoices are reviewed with the Internal Buyers. Invoices in query are held back from the Payment Runs. If the dispute is not resolved within the Contractual Payment Terms this will be reflected in the data provided in this report. The aim is to resolve queries within the Payment Period.
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.
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