OCS GROUP UK LIMITED
Company number: 03056469
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
28 July 2023
Approved by:
Tom Evans
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 63%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 56%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
65 days
Standard payment terms
The most frequently used terms for suppliers of OCS Group UK Ltd are 30 days after month of invoice date
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
65 days
The maximum contractual terms are 65 days from invoice date. These terms apply to a small number of our larger suppliers.
Any other information about payment terms
N/A
Dispute resolution process
In the event of a dispute Accounts Payable cascade to the procuring business unit who resolve with the supplier directly. The invoice is then goods receipted and paid by accounts payable. Our dedicated invoicing mailbox ocsgroupukeinv@ocs.co.uk minimises delays and allows us to effectively track invoices from receipt to payment. There is a strict no purchase order / no pay policy, suppliers are instructed not to supply goods or services without a purchase order
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.
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