HAYS SPECIALIST RECRUITMENT LIMITED
Company number: 00975677
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
26 January 2021
Approved by:
John Harrington
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 8%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
3 days
Longest standard payment period
60 days
Standard payment terms
Standard terms for third party suppliers are payment made from bank account 60 days from invoice date unless contractually agreed otherewise.No early settlement discounts are generally entered into Specific terms for Known Business Suppliers (providing Temporary workers)are payment made on next payment run on receipt of an approved timesheet . Payment runs are carried out on a twice weekly basis - 3 days Specific terms for direct limited company contractors are payment made 1 week in arrears of receipt of an approved timesheet "All invoices should be emailed to….. invoice.scanning@hays.com . Alternatively post To Accounts Payable Hays House 40-40 Coombe Road New Malden KT3 4QF
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers email account accountspayableuk@hays.co.uk who will then identify the issue and work with the supplier and the approver of the goods/ contract to resolve the issue
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