INSPIRED GAMING (UK) LIMITED
Company number: 03565640
Reporting period:
1 April 2018 to
30 September 2018
This report was filed on 31 October 2018
and approved by Stewart Baker
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 39%
- in 61 days or more: 35%
Invoices due but not paid within agreed terms: 42%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 60 days. Some of our larger suppliers are on 90 days and in special circumstances we agree lower payment terms with SME suppliers were the annual spend is less than £5,000.
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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Suppliers are contacted to notify them there is an issue with the invoice. The business representative who ordered the goods/services from the supplier then works alongside the finance team to resolve the issue with their contact at the supplier along with their finance representatives.
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.
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