GLOUCESTERSHIRE GATEWAY LIMITED
Company number: 07002304
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
24 July 2018
Approved by:
Laurence King
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 34%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 54%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
105 days
Standard payment terms
Our policy is to comply with the standard payment terms of our suppliers. Where no terms are specified we apply 30 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
105 days
Our longest standard payment terms of 105 days apply to one supplier and they are the terms as required by them. Our next longest standard payment terms are 60 days.
Any other information about payment terms
We have used invoice date rather than the date the invoice was received on to calculate our statistics which will be adversely impacting our statistics.
Dispute resolution process
Invoices in dispute go on hold and finance or the relevant budget holder will contact the supplier to resolve the issue. Once resolved the invoice will go on the next available weekly payment run. Our objective is to resolve these as quickly as possible.
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