| 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 | 17 Jul 2019 | 42 | 30% | 59% | 11% | 56% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 41 | 34% | 57% | 9% | 51% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Timico Limited agrees specific payment terms with suppliers. In the absence of agreed payment terms, Timico Limited's standard payment terms are 30 days.
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
Timico Limited is committed to acting fairly and with integrity in its dealing with suppliers. All invoices should be sent to finance@timico.co.uk quoting a valid purchase order number. In the event of a dispute on an invoice, the main point of contact is the purchase ledger department. To resolve a dispute, Timico Limited will follow the supplier's procedure for reporting the dispute. The supplier is then required to provide any missing information or to issue a corrected invoice/credit note in a timely manner. If there is further dispute on the payment of the invoice, there is an escalation process to senior finance management and in occasional circumstances, this may be referred to our legal team.
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
Timico Limited is an active private limited company incorporated in 2003, registered in the East Midlands, and classified under other telecommunications activities. Evidence indicates it now presents itself under the trading name Atlas. It employs around 222 people and reported turnover of approximately £45.2 million. As a telecommunications operator, Timico Limited provides connectivity and related communications services to business customers. Companies House records confirm its status as active, with standard supplier payment terms of 30 days and a maximum contractual period of 60 days. The company has not signed up to a prompt payment code, nor does it offer e-invoicing or supply chain finance to suppliers.
Generated from the company's website and Companies House records. Sources: paymentcheck.co.uk