INTEGRATED CLEANING MANAGEMENT LIMITED

Company number: 03193989

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 31 October 2018

and approved by Alison Henriksen

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

within 30 days: 70%
in 31 to 60 days: 24%
in 61 days or more: 6%

Invoices due but not paid within agreed terms: 4%

Payment terms

Shortest standard payment periods

15 days

Longest standard payment period

90 days

Standard payment terms

The standard payment terms on SAP are Y128. This is payment of invoice on the 28th of the month following invoice processing date (subject to pre-determined cut-off dates – normally 2 weeks prior to the period end). This equates to 45 days average.

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Disputed invoices are managed locally by the operating unit, with challenges made direct to the supplier. Ordinarily quantity disputes are resolved by the supplier providing the necessary signed “proof of delivery” to support the invoice value.

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.

Yes

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?