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Note January 24 - our usual payment cyle was slightly delayed because of the Christmas and New Year break, 97% of the £21,250 paid after 30 days was paid within 36 days.
The standard requirement under the Prompt Payment Code is payment within 60 days, although we voluntarily set ourselves a target of 30 days.
Our Policy: we aim to initiate at least 95% of payments, by bank transfer within 30 calendar days of receiving a correct invoice from a supplier. To help us to achieve this objective, we aim to review, and if appropriate, approve supplier invoices within 7 calendar days of receiving a correct invoice at our nominated email address, [email protected] and then to include all approved invoices within our next weekly payment run. In the event of an invoicing error or a dispute, we will aim to notify the supplier within 7 working days of receiving their invoice, we will then be proactive in helping to resolve the query.
Our full supplier payment policy can be found by following this link: Paying our Suppliers - Prompt Payment Code | Mainstream Group (recruitandtrain.com)
Note: We started to report these statistics for September-2023 onwards, so for this financial year there are only seven months reported.