THAMES WATER UTILITIES LIMITED
Company number: 02366661
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
13 November 2018
Approved by:
Brandon Rennet
Payment statistics
Average time taken to pay invoices: 60 days
Invoices paid:
- within 30 days: 21%
- in 31 to 60 days: 25%
- in 61 days or more: 54%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
91 days
Standard payment terms
Our standard terms are 60 days end of month. Therefore payment is due on the last day of the second month following receipt of the invoice. Example 1 – valid invoice received on 1st July would be due for payment on 30th September (91 days) Example 2 – valid invoice received on 31st July would be due for payment on 30th September (61 days)
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
91 days
No further comment provided
Any other information about payment terms
Where we enter into a competitive tender process, payment terms forms part of the negotiation that would applied to the contract. Currently we do not currently have different terms based on the size of the company. Full purchase order terms and conditions can be found within our website - https://corporate.thameswater.co.uk/Supplier-Enquiries
Dispute resolution process
Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address: invoiceresolution@thameswater.co.uk In the event of specific dispute, the supplier should contact the individual who is the main point of contact as identified on the purchase order. Payment will not be made until the dispute is resolved.
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