VITALITY CORPORATE SERVICES LIMITED
Company number: 05933141
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
30 July 2019
Approved by:
N Koopowitz
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 12%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
As standard, unless otherwise agreed with the Supplier, VCSL will pay any invoiced amounts within 30 days of the date of a valid and correct invoice to a bank account nominated in writing by the Supplier. VCSL reserves the right to withhold payment from the Supplier where, in its reasonable opinion, the Supplier has failed to provide goods free from defect or has not performed the services with reasonable skill, care and diligence in a good and workmanlike manner.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
First notification of disputes or complaints regarding supplier payments are directed towards VCSL’s Group Sourcing Team who will seek a resolution to an issue. Should the Group Sourcing team not be able to resolve the issue, the issue will be discussed by senior officers of VCSL and the Supplier who will co-operate in good faith to resolve the dispute. If the issue cannot be resolved by the senior officers, then VCSL and the Supplier will attempt to settle it by mediation in accordance with the Centre for Dispute Resolution (CEDR) Model Mediation Procedure.
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