Score of 94.6/100 qualifies for PaymentCheck Certification
RACE BANK WIND FARM LIMITED demonstrates a strong central payment tendency, with an average payment time of 23 days and 89% of invoices settled within 30 days, indicating a broadly efficient payment operation. The tail-end distribution shows limited but notable exposure, with 9% of payments falling in the 31–60 day range and 2% exceeding 60 days, suggesting occasional processing delays rather than systemic issues. Overall, the payment trajectory reflects a company that meets its obligations promptly in the vast majority of cases.
The 15% late payment rate introduces a meaningful layer of unpredictability that suppliers should weigh against the otherwise solid average performance. While the 23-day average is reassuring, the divergence between this figure and the late payment rate suggests that a subset of invoices experiences disproportionate delays, which could affect cash flow planning. This inconsistency points to selective or situational processing bottlenecks rather than a uniformly reliable payment culture.
RACE BANK WIND FARM LIMITED presents a broadly low-risk payment profile, making it a generally acceptable counterparty for suppliers operating with standard payment terms of 30 days or more. However, the 15% late payment incidence warrants proactive measures, such as clearly defined invoice submission procedures, agreed escalation contacts, and early payment discount incentives where margin allows. Suppliers should monitor payment performance on an ongoing basis and consider including late payment penalty clauses in contracts to protect against the minority of delayed settlements.
| 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 2025 - 31 Dec 2025 | 26 Mar 2026 | 20 | 98% | 2% | 0% | 6% |
| 01 Jan 2025 - 30 Jun 2025 | 26 Mar 2026 | 24 | 95% | 5% | 0% | 6% |
| 01 Jul 2024 - 31 Dec 2024 | 26 Mar 2026 | 24 | 95% | 5% | 0% | 3% |
| 01 Jan 2024 - 30 Jun 2024 | 26 Mar 2026 | 18 | 97% | 3% | 0% | 4% |
| 01 Jul 2023 - 31 Dec 2023 | 26 Mar 2026 | 12 | 96% | 4% | 0% | 4% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Mar 2026 | 27 | 94% | 3% | 3% | 4% |
| 01 Jul 2022 - 31 Dec 2022 | 26 Mar 2026 | 10 | 96% | 3% | 1% | 3% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Mar 2026 | 13 | 88% | 10% | 2% | 7% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Mar 2026 | 16 | 90% | 9% | 1% | 10% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Mar 2026 | 23 | 89% | 9% | 2% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard contractual length of time for payment of invoices are 30 days from invoice received date. The maximum contractual payment period is 60 days from invoice day.
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
60
"The Parties will attempt to settle any dispute between them by entering into good-faith negotiations through the appropriate management level of governance in a timely manner. The Parties must as a minimum attend the first good-faith negotiations. If a dispute is not resolved by prior negotiation, any dispute arising out of or in connection with the Agreement, including any disputes regarding the existence, validity or termination thereof, shall be settled by arbitration in accordance with the provisions of the Rules of the London Court of International Arbitration provided that: a) one (1) arbitrator will be appointed; b) the arbitrator applies the laws of England; c) the arbitration shall be conducted in the English language; and d) be held in London, England. Any arbitration proceedings and decisions under the Agreement are confidential."
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
Race Bank Wind Farm Limited is a private limited company operating in the offshore wind energy sector. The company takes its name from Race Bank, an offshore location in the North Sea, indicating its involvement in wind farm development and operation.
The company was incorporated on 16 January 2004 and is registered in London, England, under company number 05017828. Its registered office is located at 5 Howick Place, London, SW1P 1WG, and the company maintains an active status on the Companies House register.
Companies of this type in the UK wind energy sector are typically involved in the development, construction, ownership, and operation of offshore wind farm assets. This includes the generation of electricity from wind turbines installed at sea, contributing to the United Kingdom's renewable energy infrastructure and national grid supply.
As a private limited company, Race Bank Wind Farm Limited operates within the regulatory framework governing energy generation in the United Kingdom, including compliance with relevant environmental and energy legislation applicable to offshore wind installations.