EXPONENTIAL-E LIMITED
Company number: 04499567
Reporting period:
1 February 2020 to 31 July 2020
Report filed on:
26 August 2020
Approved by:
Henry Pepperall
Payment statistics
Average time taken to pay invoices: 72 days
Invoices paid:
- within 30 days: 34%
- in 31 to 60 days: 50%
- in 61 days or more: 16%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 61%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
We pay supplier invoices once the relevant goods and services are received and once the invoices fall due. Contractually we reserve the right to part-pay invoices where legitimate disputes are raised concerning the validity of charges invoiced. We will always make a payment for the correctly invoiced element on the invoice even if part of it is being disputed.
Were there any changes to the standard payment terms in the reporting period?
Temporary payment extensions agreed with some suppliers during Covid
Were suppliers notified or consulted about these changes before they were made?
Our procurement department ensured it was communicated and documented with relevant parties
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are raised in writing to the email address held either in our records or the email address the invoice was sent from or the email address stated on the invoice. Contractually we reserve the right to part-pay invoices where legitimate disputes are raised concerning the validity of charges invoiced. We will always make a payment for the correctly invoiced element on the invoice even if part of it is being disputed.
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