Company number: 01164085
and approved by Greg McLeen
Average time taken to pay invoices: 44 days
Invoices paid:
Invoices due but not paid within agreed terms: 11%
75 days
90 days
Our standard contractual payment terms are 60 days from the end of the month of receipt of invoice. (therefore 75 days average) In practice, our IT payment system is uses invoice date rather than the receipt date, therefore paying earlier than contractually obliged in most cases. Invoices are not released for payment until fully authorised and matched to an approved purchase order. Payments can be delayed while invoice discrepancies are investigated and resolved. By exception we also pay some suppliers earlier, particularly where the supplier takes payment by Direct Debit. Our standard payment terms are not formally amended in these instances.
Answer not provided
N/A
90 days
No further comment provided
N/A
All invoices must be matched to an approved purchase order. If there is a variance between the invoice and the purchase order the invoice will be held until the difference is resolved. The originator of the purchase order will contact the supplier directly, by phone or email, to begin discussions to resolve the difference.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No