| 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 Jul 2023 - 31 Dec 2023 | 20 Feb 2024 | 41 | 43% | 33% | 24% | 26% |
| 01 Jan 2023 - 30 Jun 2023 | 30 Jul 2023 | 38 | 42% | 30% | 28% | 29% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 49 | 23% | 54% | 23% | 34% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The most frequently used payment terms is 60days from invoice date. Payment runs are typically done on a weekly basis.
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 Ipsum Group aims to resolve all queries and disputes in a timely manner. All supplier queries can be addressed to ig.accountspayable.
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
Ipsum Group Limited is registered as a holding company. The evidence indicates it sits at the head of the Ipsum group of businesses, which trades as Ipsum Utilities and describes itself as a UK engineering services provider for critical infrastructure. The group supplies engineering, maintenance and asset management services to water and sewerage companies, distribution network operators, industrial manufacturers, food and beverage producers and petrochemical facilities, covering regulated power, private power networks, regulated water, private water networks, controls and automation, and wider infrastructure works. It operates from over 40 UK locations with more than 1,500 engineers and technical specialists, and has grown through acquisitions of specialist engineering and utility businesses.
Generated from the company's website and Companies House records. Sources: ipsumutilities.com · ipsumutilities.com · ipsumutilities.com