ISS MEDICLEAN LIMITED

Standard payment terms

30 days of receiving a valid VAT invoice that is accurate, undisputed, and properly due.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

This entity solely engages with public sector work and therefore applies the statutory 30-day payment term implied under the Procurement Act 2023. We also follow a strict "no purchase order, no payment" policy. Unless an exception is formally approved by an authorised representative, any invoice submitted without a valid purchase order number will be rejected and returned to the supplier. To provide more detail on the total value of payments not paid within agreed period: £9,766,595 was Intercompany and £3,443,125 were due to a dispute.

Maximum contractual payment period agreed

30

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