DAISY CORPORATE SERVICES TRADING LIMITED
Company number: 02888250
Reporting period:
1 October 2019 to 31 March 2020
Report filed on:
29 May 2020
Approved by:
Paul Worthington
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 38%
- in 61 days or more: 16%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 36%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
The Companies standard contractual terms are 60 days after the end of the month in which the invoice is dated, however, specific terms can be negotiated and agreed with a supplier. the agreed terms are reflected in our commercial documentation and accounting system
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
Invoices paid late significantly reduces when taking into account payments paid on the next payment run following due date. which is a maximum of 15 days on a bi-monthly payment cycle. There are a number of reasons why remaining payments could be delayed, for example internal approvals, late receipt of invoices. suppliers quoting incorrect purchase order numbers and disputes.
Dispute resolution process
Supplier invoices are processed and passed to business approvers who can approve or reject an invoice. In the event of a dispute, it is logged with the supplier via email or on their portal wherever applicable. The supplier and the relevant Daisy authorised person work towards dispute resolution. If the dispute is ruled in favour of Daisy, a credit note may be issued by the supplier, In case the dispute remains unresolved within a reasonable period the supplier can contact the relevant Daisy Corporate Servics business contact or a member of the Procurement team.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No