TRAVEL COUNSELLORS LIMITED
Company number: 02133414
Reporting period:
1 May 2024 to 31 October 2024
Report filed on:
29 November 2024
Approved by:
Ivan Bumstead
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 14%
- in 61 days or more: 16%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 84%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
The majority of suppliers require payment 15 days after we receive a statement, usually on the 1st of each month, so the payment rule is end of month plus 15. Some suppliers require payment 30 days after receipt of a statement. Some products require immediate payment at the time of booking (e.g. Low Cost Carriers), others are paid after travel. Airline tickets are paid weekly via IATA/BSP.
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
90 days
No further comment provided
Any other information about payment terms
Late receipt of supplier statements can lead to late payments
Dispute resolution process
Disputes are sent in the first instance via email to suppliers and we work with them for a swift resolution.
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