HAYS TRAVEL LIMITED
Company number: 01990682
Reporting period:
1 November 2017 to 30 April 2018
Report filed on:
30 May 2018
Approved by:
Marta Fernandez Varona
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 21%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
38 days
Standard payment terms
We generally do not have standard payment terms for our holidays suppliers. It is the supplier who defines the standard payment term. We have payment requests from holidays suppliers based on a certain amount of days before (packages, flights, cruises) or after (accommodation) the holiday takes place. The payment term that we are reporting here is the difference between the date of statement received and the date of payment. With this criteria in mind, the standard term per type of supplier are as follows: Packages: 22 days Cruise: 6 days Accommodation: 23 days Flights - Low cost: 5 days Flights - Regular airlines: 23 days
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
38 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Our supplier payments team checks internally with both our systems and branches any difference to the statement value sent by the supplier. If the supplier value is verified we pay the amount due and update our costings internally. If the supplier value is not correct, the team will get in touch with the supplier to try and resolve the query before the next statement is issued by the supplier.
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