Fibrus Networks Ltd paid suppliers in 27 days on average — inside its shortest stated term

Standard payment terms

Fibrus Networks Limited does not have standard payment terms, payment terms are agreed with suppliers as part of contract negotiations. The agreed terms will depend on the type of work, size of the company and product or service purchased. The most commonly used payment terms in the period were 30 days from end of month of supply. Contractor payments generally are paid earlier than contracted terms. Payments are made direct to bank accounts via faster payment, CHAPs or via international transfer. To ensure prompt payment and reduce the risk of invoice rejections: • Purchase Order numbers must be quoted clearly on the front page of the invoice • Invoices must mirror the Purchase Order (i.e. state the goods and services in a similar format – quantity, price per unit, total price per li

Dispute resolution

In the event of a dispute with another party, Fibrus will engage with that party in good faith to establish the full grounds of any such dispute, with a view to reaching settlement as swiftly as possible. Initial queries are dealt with by our AP Team who will then liaise with the appropriate business area to resolve the query. If resolution is not possible in this way the dispute will be escalated to senior management. For contractor costs, where any disputes arise, these are resolved by the Commercial/Quantity Surveyor in accordance with the overall building contract and the specific subcontract.