Score of 81.9/100 qualifies for PaymentCheck Certification
VIRIDOR WASTE LIMITED demonstrates a generally prompt payment trend, with an average payment time of 28 days. A significant 67% of invoices are settled within 30 days, indicating a consistent capability to meet standard payment terms for the majority of transactions. This suggests a reliable trajectory for most payments.
Despite the strong prompt payment trend, a notable degree of volatility is present, with 28% of payments being late. Specifically, 25% of invoices are paid between 31-60 days, and 8% extend beyond 60 days. This distribution indicates that suppliers should anticipate that roughly one-third of payments might be delayed past standard 30-day terms, introducing some unpredictability.
Overall, VIRIDOR WASTE LIMITED is a generally favorable payer, with a majority of invoices settled promptly. Suppliers should factor in the 28% late payment rate, particularly the 8% paid over 60 days, as a key decision factor for cash flow planning. Implementing clear payment terms and potentially monitoring credit limits for extended payment cycles would be a prudent risk mitigation strategy.
| 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 Oct 2023 - 31 Mar 2024 | 21 May 2024 | 24 | 75% | 20% | 5% | 20% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The company shall pay each invoice which is properly due and submitted within 60 days after the end of the month of receipt by the company of a valid undisputed invoice (the “Due Date”).
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Viridor introduced a new automated invoice process in conjunction with a new group ERP system in November 2021. This was implemented to deliver improved financial governance and improve the timeliness and response to the invoice workflow and payments to suppliers. A valid invoice reflects: • registered and approved supplier • purchase order number • includes the necessary details of goods/services, date and financial detail and sent either electronically to invoices@viridor.co.uk or by post. Whilst Viridor is not a member of the prompt payment code, we do adopt the principles of the code including: 1. paying suppliers on time – with average payment days below our standard terms 2. Clear guidance to suppliers – our terms and conditions are included within our purchase orders and on our website.
Maximum contractual payment period agreed
90
VIRIDOR WASTE LIMITED operates an automated invoice process. We work closely with our suppliers and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the dedicated Accounts Payable team and Transactional Services Manager who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any dispute arising that is not resolved is escalated through the finance management structure and the Executive Management team member if required.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
VIRIDOR WASTE LIMITED is an active private limited company operating within the waste management sector.
The company was incorporated on 8 November 1991 and holds company number 02662755. Its registered office is located at Ardley Erf, Middleton Stoney Road, Ardley, England, OX27 7AA, placing its operations within the South East region.
In the UK market, companies specialising in waste typically provide a range of services. These include waste collection, recycling solutions, waste treatment, and resource recovery.