EMPIRIC STUDENT PROPERTY PLC

Standard payment terms

We pay invoices as soon as we receive them. We have weekly payment runs and so once approved by the FC and CFO then the accounts payable team pays the amounts. The majority of the payment terms are 7, 14 or 28 days. For ongoing developments then some payments can take longer from the invoice date because of defects in an ongoing development, however the payment is not technically due at this time. The usual payments made regarding these invoices are 7-14 days.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

Invoices are initiated as soon as received by the accounts payable team, and are paid within a week as they will go on the payment run. There are invoices we receive that have old invoice dates however, we receive these late for various reasons, but we pay these as soon as possible and we are regular payers, as seen by weekly payment runs.

Maximum contractual payment period agreed

30

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