GOV.UK
IRVINGQ LIMITED
Company number: 02524190
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 17 January 2019
and approved by Tracy Dawkins
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 58%
- in 61 days or more: 28%
Invoices due but not paid within agreed terms: 71 %
Payment terms
Standard payment period for qualifying contracts
1 days
Standard payment terms
Standard payment terms are 45 days net of invoice date, other standard payment terms can be agreed with suppliers if required.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Any disputed invoices are firstly dealt with by the accounts payable team, who generally deal with smaller queries such as delivery charges and purchase price variations. The variation are reviewed and agreed by the buying department. If a query cannot be easily resolved, the case is handed over to the Purchasing department to investigate. The Purchasing department will liaise with the supplier and other departments within the business in order to resolve the queries. If the dispute cannot be resolved by the Purchasing department, the Head of Purchasing will inform both the Commercial Director and Finance Director who will decide on how the dispute is to be handled. (An agreed position has been reached between the parties of contract, or action is pursued to enforce the contract terms under the residing jurisdiction of law)
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
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