HAMMERSON GROUP MANAGEMENT LIMITED
Company number: 00574728
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 23 January 2019
and approved by Timon Drakesmith
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 15%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Standard payment terms are 30 days following the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Hammerson operates a workflow system by which
all invoices are logged by the Purchase Ledger
team and sent to the Initiator for approval. At this
point if the Initiator has a query they will contact the
supplier directly to resolve. The supplier will receive
a phone call/email/letter indicating the invoice
number and reason for rejection. The Initiator will
put the invoice on "Stop". Once the query is
resolved the Initiator will either return the invoice to
the PL team informing them a new invoice/credit
note is due or will pass the invoice on for payment.
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.Yes – Prompt Payment Code
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