Industry ranking
LRQA LIMITED exhibits a consistent trend towards extended payment cycles, evidenced by an average payment time of 50 days. The majority of payments (48%) fall into the 31-60 day bracket, with a significant 16% extending beyond 60 days. This trajectory indicates that timely payments within standard 30-day terms (only 36%) are not the norm for this company.
The 61% late payment rate signifies substantial unpredictability and unreliability in LRQA LIMITED's payment behavior. A notable 16% of payments exceeding 60 days introduces a high level of cash flow risk for suppliers. This indicates that adherence to agreed payment terms is highly volatile, making future payment dates difficult to forecast.
Suppliers should approach LRQA LIMITED with caution due to the consistent pattern of extended and late payments, averaging 50 days with 61% late. Key decision factors include the high likelihood of delayed cash inflow and the significant portion of payments exceeding 60 days. Mitigate risk by negotiating stricter payment terms, considering upfront payments, or exploring credit insurance options.
| 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 Jul 2025 - 31 Dec 2025 | 26 May 2026 | 40 | 30% | 59% | 11% | 67% |
| 01 Jan 2025 - 30 Jun 2025 | 28 Jul 2025 | 50 | 36% | 48% | 16% | 61% |
| 01 Jul 2024 - 31 Dec 2024 | 09 Jul 2025 | 43 | 67% | 21% | 12% | 26% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 48 | 45% | 37% | 18% | 59% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms are agreed on an individual basis; standards vary between 30 and 60 days depending on the category of goods and services being provided.
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
60
There is a designated centralised helpdesk for suppliers, supplier-queries@lrqa.com. If the accounts payable or payments team can not directly support the supplier, they co-ordinate with the relevant business representative to resolve with their supplier counterpart
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
LRQA Limited is a UK-registered company based in Birmingham, forming part of the LRQA group. The group provides assurance, certification, inspection and training services, helping businesses manage risk across quality, safety, cyber security, climate performance and supply chain responsibility. Its offerings include ISO management system certification, safety culture programmes, responsible sourcing audits and cyber security services, serving sectors such as food and beverage, energy, transportation, financial services, technology, construction and healthcare. The entity's own role is as the UK operating company within this wider risk management and certification group, rather than as a manufacturer or product supplier itself.
Generated from the company's website and Companies House records. Sources: lrqa.com