The trend for ORANGE GENIE COVER LIMITED's average time to pay invoices has been increasing over the past three periods, from 12 days in 2017-2018 to 14.5 days in 2018-2019.
There is some volatility in ORANGE GENIE COVER LIMITED's payment patterns, with the company consistently paying all invoices within agreed terms and having no standard payment period.
ORANGE GENIE COVER LIMITED's average time to pay invoices has increased from 12 days to 14.5 days over the past three periods, while the percentage of invoices paid within 30 days has decreased from 95% to 82.4%. There has also been a significant increase in the percentage of invoices paid between 31 and 60 days.
| 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 2017 - 31 Mar 2018 | 26 Apr 2018 | 12 | 95% | 5% | 0% | 5% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 30 days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Any disputes are resolved over the phone/by email by the finance team as soon as a discrepancy is apparent.
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
ORANGE GENIE COVER LIMITED is a UK-based company that specializes in providing a range of services for contractors and freelancers. The company was founded in 2008 and has since established itself as a leading provider of contractor insurance and compliance services.
The company offers a variety of insurance products, including professional indemnity, public liability, and employers' liability insurance, to protect contractors and freelancers from financial risks. They also provide a range of compliance services, such as payroll, tax advice, and IR35 assessments, to ensure that their clients are operating within legal and tax regulations.
In addition to their products and services, ORANGE GENIE COVER LIMITED is committed to sustainability and has implemented various initiatives to reduce their environmental impact. They have a recycling program in place and have switched to using energy-efficient lighting and equipment in their office. They also encourage their employees to use public transportation or carpool to reduce carbon emissions.
The key people behind ORANGE GENIE COVER LIMITED include their managing director, Lucy Smith, and their chairman, Derek Kelly. Both have extensive experience in the insurance and financial services industry.
For those interested in their products and services, ORANGE GENIE COVER LIMITED can be contacted via their website or by phone. Their website also provides information on their sustainability program and details on how they can help contractors and freelancers navigate through the complex world of compliance. The registered office address of the company is Unit 7, Apex Court, Woodlands, Bradley Stoke, Bristol, BS32 4JT.
Overall, ORANGE GENIE COVER LIMITED is a reputable and sustainable company, offering valuable services to contractors and freelancers in the UK. Their commitment to sustainability and compliance makes them a reliable partner for those in the contracting industry.