Payment Practices & Performance
September 2023
Average time to pay | 35 days |
% of payments made within 30 days | 47% |
% of payments made within 60 days | 46% |
% of payments made after 60 days | 7% |
% of payments not paid within the agreed period | 24% |
- 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 September, covering circa 12,406 invoices across 700 suppliers
Payment and Practices Performance Document
View Report