The average time taken for ARCUS SOLUTIONS (HOLDINGS) LIMITED to pay invoices has decreased from 2018 to 2019, with a significant decrease of 16.6% between the first and third period. The percentage of invoices paid within 30 days has also decreased, while the percentage of invoices paid between 31 and 60 days has increased. The percentage of invoices paid later than 60 days has fluctuated, but overall has also decreased from 2018 to 2019.
The volatility of ARCUS SOLUTIONS (HOLDINGS) LIMITED's payment patterns can be seen in the fluctuations of the percentage of invoices paid later than 60 days. While there was a significant decrease in the third period, this percentage reached its highest in the second period (50%) compared to the first and third periods (38% and 35% respectively). This shows that ARCUS SOLUTIONS (HOLDINGS) LIMITED has not consistently improved its payment timeliness and may still face challenges in paying invoices on time.
| 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 | 54 | 0% | 62% | 38% | 0% |
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
60
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 Solutions (Holdings) Limited is a holding company registered in Essex, with a Companies House business classification of head office activities. The wider group trades as Arcus FM, an award-winning facilities management provider self-delivering over 80% of its services across the UK. The group offers hard services such as mechanical and electrical work, refrigeration, building fabric and drainage, alongside soft services including cleaning, grounds keeping and security, plus technology-led and specialist support. It operates a large fleet of multi-skilled engineers and technicians, supports national customers around the clock, and runs a dedicated training centre for its workforce. Arcus Solutions (Holdings) Limited itself functions as the parent entity overseeing this group's operations rather than delivering services directly.
Generated from the company's website and Companies House records. Sources: arcusfm.com · arcusfm.com