GFSL Payment practice reporting: October 2023 to March 2024
Updated 15 April 2024
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Warning This information is as reported by the business, and responses are in their own words.
This report was filed on 16 April 2024
and approved by Andrew Gillies
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 9.9%
- in 61 days or more: 7.1%
Invoices due but not paid within agreed terms: 17%
Payment terms
Shortest standard payment period
2 days
Longest standard payment period
30 days
Standard payment terms
Gov Facility Services Limited has standard payment terms in place across all areas. These are detailed below:
- Materials suppliers – 30 days from receipt of invoice
- Service Suppliers – 30 days from receipt of invoice
- Facilities Maintenance sub-contractors – 30 days from receipt of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
None
Dispute resolution process
In accordance with good practice we aim to validate all invoices in a timely manner with any discrepancies or queries being referred to the supplier or subcontractor for resolution or invoice correction.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No
Does this business offer e-invoicing? This is where suppliers can electronically submit invoices.
Yes
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No