PM CENTRAL SERVICES LIMITED

Company number: 08752809

Reporting period:
1 July 2021 to 31 December 2021

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

This report was filed on 27 January 2022

and approved by Gary Warman

Payment statistics

Average time taken to pay invoices: 23 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: 10%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

30 days from date of invoice, invoice to be made on date of completion of delivery of service.

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

1.1 If a dispute arises out of or in connection with this Agreement or the performance, validity or enforceability of it (Dispute) then the parties shall follow the procedure set out in this clause: (a) either party shall give to the other written notice of the Dispute, setting out its nature and full particulars (Dispute Notice), together with relevant supporting documents. On service of the Dispute Notice, the [INSERT EMPLOYEE TITLE] of Police Mutual and [INSERT EMPLOYEE TITLE] of the Supplier shall attempt in good faith to resolve the Dispute; (b) if the [INSERT EMPLOYEE TITLE] of Police Mutual and [INSERT EMPLOYEE TITLE] of the Supplier are for any reason unable to resolve the Dispute within [30] days of service of the Dispute Notice, the Dispute shall be referred to the [INSERT SENIOR OFFICER TITLE] of Police Mutual and [INSERT SENIOR OFFICER TITLE] of the Supplier who shall attempt in good faith to resolve it; and (c) if the [INSERT SENIOR OFFICER TITLE] of Police Mutual and [INSERT SENIOR OFFICER TITLE] of the Supplier are for any reason unable to resolve the Dispute within thirty (30) days of it being referred to them, the parties will attempt to settle it by mediation in accordance with the CEDR Model Mediation Procedure. Unless otherwise agreed between the parties, the mediator shall be nominated by CEDR. To initiate the mediation, a party must serve notice in writing (ADR notice) to the other party to the Dispute, requesting a mediation. A copy of the ADR notice should be sent to CEDR. The mediation will start not later than thirty (30) days after the date of the ADR notice. 1.2 If the Dispute is not resolved within [INSERT NUMBER] days after service of the ADR notice, or either party fails to participate or to continue to participate in the mediation before the expiration of the said period of [INSERT NUMBER] days, or the mediation terminates before the expiration of the said period of [INSERT NUMBER] days, the Dispute shall be finally resolved by the courts of England and Wales in accordance with Clause 25.

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: Royal London are members of the 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.

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?