XBRIDGE LIMITED
Company number: 03967717
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
28 January 2019
Approved by:
Jason Stockwood
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 8%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
5 days
Longest standard payment period
30 days
Standard payment terms
At Xbridge Limited it is important to us to pay our suppliers on time and we aim to pay all invoices within 30 days from invoice date, unless otherwise agreed with the supplier. To ensure timely payment, suppliers should email all invoices to accounts.assistant@simplybusiness.co.uk and ensure our Purchase Order Number is entered on the invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes or discrepancies would normally be raised with the supplier by the person within Xbridge who raised the expenditure, with a view to resolving the dispute and settling the invoices as soon as possible. Any query from a supplier regarding an invoice should be directed in the first instance to the supplier’s contact within Xbridge. The finance department can be contacted at financeteam@simplybusiness.co.uk in the unlikely event that an escalation is needed.
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 Fair 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