Industry ranking
Score of 93.67/100 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 | 05 Nov 2024 | 14 | 89% | 10% | 1% | 10% |
| 01 Oct 2023 - 31 Mar 2024 | 29 Apr 2024 | 15 | 90% | 8% | 2% | 9% |
| 01 Apr 2023 - 30 Sept 2023 | 08 Nov 2023 | 13 | 89% | 11% | 0% | 11% |
| 01 Oct 2022 - 31 Mar 2023 | 28 Apr 2023 | 11 | 93% | 7% | 0% | 7% |
| 01 Apr 2022 - 30 Sept 2022 | 01 Nov 2022 | 21 | 91% | 9% | 0% | 9% |
| 01 Oct 2021 - 31 Mar 2022 | 25 Apr 2022 | 23 | 89% | 11% | 0% | 0% |
| 01 Apr 2021 - 30 Sept 2021 | 08 Oct 2021 | 23 | 89% | 11% | 0% | 11% |
| 01 Oct 2020 - 31 Mar 2021 | 07 Apr 2021 | 23 | 89% | 11% | 0% | 10% |
| 01 Apr 2020 - 30 Sept 2020 | 12 Oct 2020 | 23 | 85% | 15% | 0% | 13% |
| 01 Oct 2019 - 31 Mar 2020 | 28 Apr 2020 | 25 | 80% | 20% | 0% | 27% |
| 01 Apr 2019 - 30 Sept 2019 | 16 Oct 2019 | 27 | 83% | 17% | 0% | 10% |
| 01 Oct 2018 - 31 Mar 2019 | 03 Apr 2019 | 32 | 70% | 28% | 2% | 19% |
| 01 Apr 2018 - 30 Sept 2018 | 29 Oct 2018 | 34 | 53% | 45% | 2% | 44% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Company agrees appropriate terms of payment with suppliers, prior to supply, and adheres to these terms provided satisfactory invoices are received, in a timely manner. The most frequent terms are 30 days however variations between suppliers do exist.
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
The Company always looks to treat suppliers fairly and resolve disputes in a timely manner. If the dispute cannot be resolved by the Accounts Payable Team it will be escalated, in the first instance, to the Head of Department to seek resolution.
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
Tower Transit Operations Ltd is a UK company registered under this name since 2012, originally incorporated as Centrewest (No.1) Limited. Companies House records its business activity under the SIC code for other urban, suburban or metropolitan passenger land transport, not underground or metro. Third-party business data describes it as operating within trucks, transport and logistics, means of transport, and lists it among comparable bus operating companies. The company is owned by Tower Transit Ltd. Its registered office is in Northampton. No further detail on specific routes, contracts or services operated is confirmed in the available evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · uk.globaldatabase.com