| 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 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 32 | 35% | 65% | 0% | 62% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 34 | 39% | 59% | 2% | 58% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Undisputed sums are paid within 30 days of receipt of a valid invoice.
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
30
Where there is a bona fide dispute over an invoice it is raised as soon as reasonably practical. If the dispute is not resolved at this stage, nominated individuals from the relevant department and/or the finance department enter into discussions with the supplier and act in good faith to resolve the dispute as quickly as possible. If the dispute remains unresolved after a pre-determined amount of time (depending upon the individual contract but typically within approximately 30 to 45 days), then the matter may be referred to the courts, or arbitration for final settlement (depending upon the individual contract).
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
ARK ESTATES DEVELOPMENT LIMITED is an active private limited company, incorporated on 28 November 2016, based in the South West region. Registered business activity: Development of building projects.
From Companies House records.