CORNERSTONE TELECOMMUNICATIONS INFRASTRUCTURE LIMITED
Company number: 08087551
Reporting period:
1 April 2024 to
30 September 2024
This report was filed on 4 November 2024
and approved by James Gill
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 49%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Cornerstone’s standard payment terms are 45 days measured from the date of receipt of a valid invoice.
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
Cornerstone’s standard payment terms are 45 days measured from the date of receipt of a valid invoice, except suppliers who qualify as small or medium sized entities (defined as companies with turnover of less than £5m per annum) where 30-day payment terms are available upon request when the supplier contracts with the company. The Company makes a weekly payment run in which all valid invoices are paid based on their contractual due date. This takes place each Wednesday (except for Public / Bank Holidays) with payment received by Suppliers on Friday each week. Where a supplier’s due date doesn’t naturally fall on a Friday, the invoice will be paid early, on the Friday preceding the actual due date.
Any other information about payment terms
N/A
Dispute resolution process
In the event of an invoice dispute or query, suppliers are advised to contact the dedicated Accounts Payable team (p2p@cornerstone.network ) who will aim to resolve all disputes in a fair and timely manner. During the supplier on-boarding process, suppliers are provided with invoicing instructions and direct contact numbers for the Accounts Payable team.
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.
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.
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