Payment Practices & Performance
Performance as at December 2021
- Average time to pay 28 days
- % of payments made within 30 days 59%
- % of payments made within 60 days 40%
- % of payments made after 60 days 1%
- % of payments not paid within the agreed period 33%
- Standard payment terms are 30 days, unless otherwise negotiated with procurement.
- The current maximum contractual payment is 60 days end of month.
- All suppliers are notified of any changes to terms via email (where applicable), or post.
- Invoice disputes are dealt with by the relevant business unit, Rivus aim to answer and close these within 5 working days of receipt.
- The data above covers the entirety of December, covering circa 11,735 invoices across 700 suppliers.