Company number: 05104448
and approved by James Fasey
Average time taken to pay invoices: 39 days
Invoices paid:
Invoices due but not paid within agreed terms: 5%
30 days
71 days
International Procurement and Logistics Limited ('IPL')’s standard contractual payment terms state that IPL will pay each correct invoice on its next weekly payment run following 30 days after receipt of goods (for produce suppliers), 30 days (cash in bank) after the date of invoice (for small suppliers, including small produce suppliers) or on its next weekly payment run following 60 days after the date of invoice (for the majority of IPL’s other suppliers). In certain specific circumstances, IPL may agree to shorter and longer payment terms with its suppliers as part of an overall commercial agreement.
Answer not provided
N/A
71 days
No further comment provided
Within IPL’s standard contractual terms, IPL may set off monies payable to a supplier against any monies owed to IPL by the same supplier.
If an IPL supplier raises a query in respect of an outstanding invoice, payment or deduction, in the first instance it is handled by the Accounts Payable team through a clear query process. If necessary the Accounts Payable team will refer to other business areas within IPL to resolve the enquiry. If the matter remains unresolved within the target turnaround time it is escalated to senior leadership.
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