VIRIDOR TRIDENT PARK LIMITED
Company number: 07977364
Reporting period:
1 April 2024 to
30 September 2024
This report was filed on 28 October 2024
and approved by Julie Louise Haynes
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 49%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 30%
Payment terms
Shortest standard payment periods
90 days
Longest standard payment period
Answer not provided
Standard payment terms
The company shall pay each invoice which is properly due and submitted within 60 days after the end of the month of receipt by the company of a valid undisputed invoice (the “Due Date”).
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
90 days
The agreed maximum contractual payment period was 90 days (assuming the invoice was received on the first of the month). However, the majority of invoices paid during this period were under end of month + 30 days (up to 60 days) or net 30 (up to 30 days) payment terms.
Any other information about payment terms
Viridor introduced a new automated invoice process in conjunction with a new group ERP system in November 2021. This was implemented to deliver improved financial governance and improve the timeliness and response to the invoice workflow and payments to suppliers. A valid invoice reflects: • registered and approved supplier • purchase order number • includes the necessary details of goods/services, date and financial detail and sent either electronically to invoices@viridor.co.uk or by post. Whilst Viridor is not a member of the prompt payment code, we do adopt the principles of the code including: 1. paying suppliers on time – with average payment days below our standard terms 2. Clear guidance to suppliers – our terms and conditions are included within our purchase orders and on our website.
Dispute resolution process
Viridor Trident Park Limited operates an automated invoice process. We work closely with our suppliers and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the dedicated Accounts Payable team and Transactional Services Manager who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any dispute arising that is not resolved is escalated through the finance management structure and the Executive Management team member if required.
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