Company number: 06864784
and approved by Elliot Rees
Average time taken to pay invoices: 16 days
Invoices paid:
Invoices due but not paid within agreed terms: 14%
14 days
30 days
Viridor’s standard payment terms are 30 days after the end of the month of receipt by the Customer of a valid undisputed invoice. Specific payment terms for suppliers, i.e. Utilities, align with our shortest payment period.
Answer not provided
N/A
60 days
The maximum contractual payment period is 60 days if the invoice were received on the date of raising, however the majority are 30 days or fewer, with the average payment days being 16.
All payment activity for Viridor Ltd and all subsidiaries are manged and processed by Viridor Waste Management Ltd (the main group trading company). As a result, the payment practices reported reflect all transactions across the Viridor group plus any specific payments made directly by the subsidiary. Viridor introduced an automated invoice process in conjunction with a new group ERP system on 1 April 2018. This was implemented to deliver improved financial governance and improve the timeliness and response to the invoice workflow and payments to suppliers. A valid invoice reflects: • registered and approved supplier • purchase order number • includes the necessary details of goods/services, date and financial detail and sent either electronically to viridorinvoices@pennon-group.co.uk or by post. Whilst Viridor is not a member of the prompt payment code, we do adopt the principles of the code including: 1. paying suppliers on time – with average payment days which is below our standard terms and lower than 30 days 2. Clear guidance to suppliers – our terms and conditions are included within our purchase orders and on our website. 3. Encourage good practice – as part of Pennon Group Plc a Supplier Code of Conduct and Sustainable Procurement Policy is being launched in November 2018.
We work closely with our suppliers and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the dedicated Accounts Payable team (accountspayable@viridor.co.uk) and Transactional Services Manager who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any disputes arising that is not resolved is escalated through the finance management structure and the Executive Management team member if required.
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