VAUXHALL FINANCE PLC
Company number: 00275607
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
31 January 2022
Approved by:
Martin Page
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 19%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are the number of days we agree to pay an invoice when agreeing to a contact with a vendor. Some vendors require less days within the term and some request more days. This is usually agreed to.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All vendor invoices are handled by our Accounts Payable terms and all disputes or complaints are reported direct to the Business Owner in the Company. The Business Owner has the relationship with the vendor who communicates directly with the vendor to resolve any disputes or complaints. The Business Owner then releases the invoices for payment.
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