ST.JAMES'S PLACE MANAGEMENT SERVICES LIMITED

Company number: 02661044

Reporting period:
1 January 2022 to 30 June 2022

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

This report was filed on 31 July 2022

and approved by Craig Gentle

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

within 30 days: 76%
in 31 to 60 days: 20%
in 61 days or more: 4%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

We seek to engage with other parties on a collaborative basis to resolve any dispute as soon as it arises, with involvement from suitably authorised stakeholders in Finance, Legal and Procurement departments as appropriate. Where the parties are unable to agree a mutually acceptable resolution between themselves, a more formal process will be utilised, such as the appointment of an independent mediator or, as a last resort, submission to the court’s jurisdiction.

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.

Yes, this business has signed up to: CICM Prompt Payment Code

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?