COREMONT PARTNERSHIP SERVICES LIMITED
Company number: BR015938
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
18 October 2024
Approved by:
Adam Ward
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 27%
- in 61 days or more: 40%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 67%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Coremont Partnership Services Limited does not dictate standard payment terms. We endeavour to pay invoices within thirty (30) days of receipt, or before the individual supplier payment terms as agreed between the parties.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In terms of the dispute resolution process when an invoice is received it will be reviewed by the relevant department to which the invoice relates (i.e. IT invoices will be reviewed by IT). If they have any changes to the invoice they will communicate directly with their contact at the relevant firm before passing on to the accounts payable department. In the case where there is a request for payment where we believe the payment has already been made the accounts payable department will communicate directly with their contact at the relevant firm to resolve this. Disputes are dealt with as a matter of urgency and any delays are usually caused by lack of response from the supplier.
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