THAMES WATER UTILITIES LIMITED

Unless otherwise agreed, our standard payment terms are 60 end of month. This means payment is due at the last day of the second month following receipt of a correctly presented compliant invoice.

e.g. valid invoice received on 1st July would be due for payment on 30th September (91 days),
valid invoice received on 31st July would be due for payment on 30th September (61 days)

We operate a weekly BACS and cheque run which includes invoices due up until the Sunday of that week.

Of the 14% of invoices due but not paid within agreed terms referred to in the Payment Statistics section above, 65% are overdue by 1-5 days. This is attributed to our weekly payment timetable. The remaining invoices not paid within the agreed terms are for invoices that are being queried or are in dispute.

There are two different types of dispute:

1. Non-compliant:
Invoices should be presented promptly to the address indicated on the purchase order and must contain a valid purchase order number. If invoices are non-compliant, they will be returned unprocessed, negatively impacting the payment date. Full details of what is considered a compliant invoice can be found within our website https://www.thameswater.co.uk/about-us/our-suppliers

We will endeavour to resolve these in a fair and timely manner. In the event of specific issue, the supplier should contact the individual who is the main point of contact as identified on the purchase order. Payment will not be made until the issue is resolved.

2. Formal disputes:
Where a solicitor has been formally instructed by Thames. Not where a pre-legal notice or final demand has been received.

Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address:invoiceresolution@thameswater.co.uk