INTEGRATED CLEANING MANAGEMENT LIMITED

Company number: 03193989

Reporting period:
1 October 2017 to 31 March 2018

This information is as reported by the business, and responses are in their own words.

This report was filed on 30 April 2018

and approved by Alison Henriksen

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

within 30 days: 68%
in 31 to 60 days: 24%
in 61 days or more: 8%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

90 days

Standard payment terms

The standard payment terms are payment of invoices on the 28th of the month following invoice processing date (subject to pre-determined cut-off dates – normally 2 weeks prior to the period end).

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

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

In the first instance, suppliers who have a query regarding an invoice should speak with their Compass contact who can liaise with the Accounts Payable team. Alternatively, suppliers can contact the Accounts Payable team directly.

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, this business has signed up to: 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.

Yes

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.

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?