| 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 Jan 2020 - 30 Jun 2020 | 20 Jul 2020 | 33 | 54% | 36% | 11% | 8% |
| 01 Jul 2019 - 31 Dec 2019 | 07 Jan 2020 | 37 | 40% | 50% | 10% | 20% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 36 | 44% | 49% | 7% | 21% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 36 | 45% | 45% | 10% | 18% |
| 01 Jan 2018 - 30 Jun 2018 | 20 Jul 2018 | 39 | 38% | 52% | 10% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days net
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
120
We strive to resolve queries on a timely basis. In respect of suppliers, goods received are inspected and receipted on site with any issues arising being promptly communicated to the supplier via telephone or email.
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
INNOVATIVE TECHNOLOGY LIMITED is an active private limited company, incorporated on 5 November 1985, based in the North West region. Registered business activity: Other research and experimental development on natural sciences and engineering.
From Companies House records.