The average time taken for ARCUS MANAGED SERVICES LIMITED to pay invoices has decreased over the past three periods, from 72 days in Apr 2018-Sep 2018 to 76.8 days in Apr 2019-Sep 2019. However, there was a slight increase in the second period (Oct 2018-Mar 2019) before decreasing again.
The volatility in the average time taken to pay invoices for ARCUS MANAGED SERVICES LIMITED has been relatively low, with only a 4.8% difference between the highest (80.5 days) and lowest (76.8 days) values.
Overall, ARCUS MANAGED SERVICES LIMITED has been consistently paying invoices later than 60 days, with the highest percentage of 83% in the first period (Apr 2018-Sep 2018). There has been a slight improvement in the percentage of invoices paid within 30 days, from 1% in the first period to 2.2% in the third period (Apr 2019-Sep 2019). However, the percentage of invoices paid between 31 and 60 days has remained relatively stable at around 15-16%. The shortest (or only) standard payment period for the company is 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 Apr 2018 - 30 Sept 2018 | 31 Oct 2018 | 72 | 1% | 16% | 83% | 8% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Arcus shall make payment for the Goods or Services within two (2) calendar months plus four (4) working days from end of the month in which a valid invoice is received by Arcus or, if later, after acceptance of the Goods or Services by Arcus should such acceptance of such Goods or Services be in question by Arcus. Arcus will not accept, and shall not be required to pay, any invoices received two months or more after the date when the Services were carried out or Goods accepted.
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
94
Where Arcus disputes the whole or any part of an invoice it shall (without prejudice to any other rights) pay all undisputed amounts and Arcus and the Supplier shall endeavour to settle, as soon as possible, any disputed items. Any overpayments shall be repaid to Arcus forthwith. If Arcus fails to pay any amount properly due and payable by it under the Contract, the Supplier shall have the right to charge interest on the overdue amount at 2% plus the base rate for the time being of Barclays Bank accruing on a daily basis from the date of judgment up to the date of actual payment which sum the parties acknowledge to be a reasonable remedy and the Supplier’s sole remedy in respect of late payment.
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
Arcus Managed Services Limited trades as Arcus FM, a full service facilities management company operating across the UK. It self-delivers over 80% of its services, using more than 1000 mobile engineers and technicians alongside a team of customer service staff to cover mechanical and electrical work, refrigeration, building fabric, cleaning, grounds keeping, security and related hard and soft services. The company also offers technology led support including helpdesk, building management systems and managed services, aiming for fast response and first time fix rates. It operates a National Training Centre for colleague development. Founded in 2009, it serves national customers around the clock, 365 days a year.
Generated from the company's website and Companies House records. Sources: arcusfm.com · arcusfm.com