Score of 89.5/100 qualifies for PaymentCheck Certification
| 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 Apr 2024 - 30 Sept 2024 | 01 Nov 2024 | 22 | 89% | 10% | 1% | 11% |
| 01 Apr 2023 - 31 Mar 2024 | 15 Jul 2024 | 22 | 85% | 11% | 5% | 16% |
| 01 Apr 2019 - 31 Mar 2020 | 05 Jun 2020 | 26 | 79% | 18% | 3% | 21% |
| 01 Apr 2019 - 30 Sept 2019 | 03 Oct 2019 | 24 | 80% | 18% | 2% | 20% |
| 01 Oct 2018 - 31 Mar 2019 | 23 Apr 2019 | 28 | 76% | 19% | 5% | 24% |
| 01 Apr 2018 - 30 Sept 2018 | 22 Oct 2018 | 28 | 77% | 18% | 5% | 23% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Unless agreed to the contrary (see Standard payment terms section below,) that our standard payment period is typically In accordance with Regulation 113 of the Procurement Contract Regulations 2015, where we strive to make payments to our suppliers no later than 30 days following our validation of undisputed invoices that we have received. By validation we mean that we have checked that it is a genuine invoice from a genuine supplier and we have received the goods or services to which it relates, or that it relates to an advance milestone payment which was agreed when the contract was awarded. For customers, 30 days standard, 60 days for some individually agreed customers, any agreement of payment terms > 30 days are approved by management and are based upon proven payment history.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
n/a
Maximum contractual payment period agreed
30
Our finance and procurement departments will investigate and provide details in relation to any disputes or concerns, if necessary we can liaise with individual employees/departments to which an order relates to help to resolve disputes or issues
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
Centre for Process Innovation Limited trades as CPI, an independent technology innovation centre based at Wilton, Redcar. It acts as a catalyst bringing together academia, businesses, government and investors to translate research and ideas into marketable products and processes. CPI is a founding member of the UK Government's High Value Manufacturing Catapult, established in 2004. It provides multidisciplinary expertise, specialist R&D, process development and scale-up facilities, and project-based support to help partners develop, prove, prototype and commercialise new products and processes across sectors such as materials, healthcare and energy. It also engages with investors through its ventures arm to support high-growth deep tech companies.
Generated from the company's website and Companies House records. Sources: uk-cpi.com · uk-cpi.com · uk-cpi.com