WSP MANAGEMENT SERVICES LIMITED
Company number: 02454665
Reporting period:
1 July 2020 to
31 December 2020
This report was filed on 29 January 2021
and approved by Miles Barnard
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 7%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 65%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
60 Days from date of invoice
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
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
WSP has a commitment to managing all disputed invoices in a timely manner. Our key steps in this process are: Disputed invoices are identified and raised by the person responsible for sourcing the supply or service, whom will then liaise with the business stakeholder. The dispute will then be owned and analysed internally by the business stakeholder and raised directly with the supplier. If settlement of the dispute cannot be reached between the business stakeholder and the supplier, escalation to Procurement and or other appropriate departments will be engaged in the process Where a resolution cannot be reached, there are a number of potential dispute resolution methods such as mediation, adjudication, expert determination, litigation and / or arbitration.
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.
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