| 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 2018 - 31 Dec 2018 | 29 Jan 2019 | 18 | 91% | 5% | 4% | 7% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 17 | 89% | 8% | 3% | 10% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, Cheltenham & Gloucester Plc 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.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Invoice Receipt Date We are currently only able to record the date of receipt of invoices for circa 50% of reportable invoices in this report. Where the date we receive an invoice is not available, we have reported on the date of the invoice itself, as we consider this the most justifiable alternative. Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting entity and paying entity Our payment statistics include some payments made by Cheltenham & Gloucester Plc where, although we are not the contracting entity for the relevant qualifying contract, the services have been received and paid for by Cheltenham & Gloucester Plc.
Maximum contractual payment period agreed
30
Suppliers can raise queries with their appointed managers in the first instance. They can also contact the dedicated accounts payable team (VIMQueriesowners@lloydsbanking.com). Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.
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
Cheltenham & Gloucester PLC is a registered company originally incorporated as Plainsite Limited before being renamed Chambers & Remington PLC and later Cheltenham & Gloucester PLC. Its registered office is linked to Lloyds Banking Group, and its correspondence addresses for officers include Lloyds Banking Group locations, indicating it operates as part of that group. Companies House records its nature of business under general business support services. No details of specific trading activity, products or customer-facing operations are provided in the available evidence, beyond its status as an active public limited company within the Lloyds Banking Group structure.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk