Industry ranking
Score of 94.3/100 qualifies for PaymentCheck Certification
The data shows a consistent trend of decreasing average time to pay invoices for CLOSE INVOICE FINANCE LIMITED, with the lowest average time being 15 days in 2021-2022. This suggests that the company has been making efforts to pay their invoices more promptly over the years.
The volatility of the data can be seen through the fluctuations in the percentage of invoices paid within 30 days, which ranges from 80% to 90%. However, the overall trend shows an improvement in this percentage over time. Starting from 2019-2020, there is a decrease in the percentage of invoices paid between 31 and 60 days, which suggests that the company has been paying more of their invoices within 30 days.
The data shows a positive trend in the time taken for CLOSE INVOICE FINANCE LIMITED to pay their invoices, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. This indicates that the company has been improving their payment processes and paying their invoices more promptly.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Aug 2025 - 31 Jan 2026 | 02 Mar 2026 | 13 | 92% | 6% | 2% | 8% |
| 01 Feb 2025 - 31 Jul 2025 | 29 Aug 2025 | 11 | 93% | 5% | 2% | 7% |
| 01 Aug 2024 - 31 Jan 2025 | 28 Feb 2025 | 13 | 91% | 6% | 3% | 9% |
| 01 Feb 2024 - 31 Jul 2024 | 29 Aug 2024 | 13 | 92% | 5% | 3% | 8% |
| 01 Aug 2023 - 31 Jan 2024 | 27 Feb 2024 | 13 | 92% | 5% | 3% | 7% |
| 01 Feb 2023 - 31 Jul 2023 | 29 Aug 2023 | 17 | 85% | 11% | 4% | 14% |
| 01 Aug 2022 - 31 Jan 2023 | 28 Feb 2023 | 16 | 90% | 6% | 4% | 10% |
| 01 Feb 2022 - 31 Jul 2022 | 26 Aug 2022 | 16 | 88% | 7% | 5% | 11% |
| 01 Aug 2021 - 31 Jan 2022 | 02 Mar 2022 | 15 | 88% | 8% | 4% | 11% |
| 01 Feb 2021 - 31 Jul 2021 | 26 Aug 2021 | 15 | 90% | 7% | 3% | 10% |
| 01 Aug 2020 - 31 Jan 2021 | 26 Feb 2021 | 15 | 90% | 6% | 4% | 10% |
| 01 Feb 2020 - 31 Jul 2020 | 28 Aug 2020 | 18 | 86% | 9% | 5% | 14% |
| 01 Aug 2019 - 31 Jan 2020 | 27 Feb 2020 | 19 | 83% | 11% | 6% | 17% |
| 01 Feb 2019 - 31 Jul 2019 | 29 Aug 2019 | 20 | 84% | 10% | 6% | 17% |
| 01 Aug 2018 - 31 Jan 2019 | 28 Feb 2019 | 21 | 81% | 13% | 6% | 20% |
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 22 | 80% | 12% | 8% | 21% |
| 01 Aug 2017 - 31 Jan 2018 | 28 Feb 2018 | 18 | 84% | 11% | 5% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Close Invoice Finance Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Group’s policy is to pay within 60 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Close Invoice Finance Limited and the supplier will first attempt to resolve any dispute by referring it for formal discussion between Close Invoice Finance Limited’s authorised representative and the supplier (both acting reasonably and in good faith). If Close Invoice Finance Limited’s authorised representative and the supplier are for any reason unable to resolve the dispute within 14 days of the date of its referral to them, the dispute may be referred to court by either Close Invoice Finance Limited or the supplier.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Close Invoice Finance Limited is a UK registered company whose registered business names are Close Brothers Invoice Finance and Close Brothers Commercial Finance. It forms part of Close Brothers Group plc, a UK specialist banking group. Under these trading names the business provides invoice finance, asset finance and asset based lending to small and medium sized enterprises and larger businesses across the UK and Ireland, helping firms improve cash flow, refinance equipment or fund strategic events such as mergers and acquisitions. It operates alongside related Close Brothers entities offering asset finance, motor finance and premium finance, though those are separate registered companies. The wider group is listed on the London Stock Exchange and employs around 3,000 people across the UK and Ireland.
Generated from the company's website and Companies House records. Sources: closecommercialfinance.ie · closecommercialfinance.ie