Company number: 08229264
and approved by Ian Rogerson
Average time taken to pay invoices: 41 days
Invoices paid:
Invoices due but not paid within agreed terms: 24%
60 days
Answer not provided
60 days from invoice date
Answer not provided
N/A
60 days
Our default payment terms are 60 days, but some suppliers are on 'paid when paid' terms whereby the supplier is only paid once Ricardo is paid by its customer. This can lead to a longer payment period, if Ricardo's customer delays payment to Ricardo.
We have many contracts where we sub-contract work from our customers and often mirror the payment terms (and other terms and conditions) which our customers provide to us. This includes payment terms such as 'paid when paid'.
Where there is a dispute over deliverables on a contract, our Project Manager will lead the discussion with the supplier's technical contact. Where there is a dispute with presentation of an invoice (such as formatting or missing information), the finance team will address the issue with the supplier.
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