TRL LIMITED

Company number: 03142272

Reporting period:
1 July 2019 to 31 December 2019

This information is as reported by the business, and responses are in their own words.

This report was filed on 29 January 2020

and approved by Peter Van Campen

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

within 30 days: 45%
in 31 to 60 days: 47%
in 61 days or more: 8%

Invoices due but not paid within agreed terms: 29%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

The payment terms are assigned by the Business Operating units on a case by case basis. Payment terms on sub-contracts will generally follow the payment terms agreed in the original Heads of Terms agreement. Standard payment terms for other transactions are in general 30 days after the month end of receipt of invoice.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

N/a

Any other information about payment terms

N/A

Dispute resolution process

The dispute resolution process is as follows: 1) Accounts Payable will be notified of a dispute either from the supplier or the invoice approver. 2) If the Organisation disputes any prices or charges in an invoice, it shall notify the Supplier within 10 business days of receipt of the invoice. 3) The Supplier shall cancel the invoice and reissue an invoice for the disputed amount within 5 business days. 4) Invoice will be put on hold while dispute is being resolved between the invoice approver and the Supplier. 5) Both parties shall promptly investigate any disputed invoice and will act reasonably to seek to resolve the dispute. 6) Where required, the legal department will be consulted where an invoice is in dispute because the work was not delivered in line with contractual terms (Sub contractor). 7) Any disputed invoice or part of an invoice agreed by Organisation to be payable following resolution shall be re-invoiced. 8) Organisation reserves the right to return invoices stated in incorrect units, or which do not quote Organisation purchase order number

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 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.

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.

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.

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?