CORIN LIMITED
Company number: 01910453
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
24 January 2024
Approved by:
Victoria Brookes
Payment statistics
Average time taken to pay invoices: 63 days
Invoices paid:
- within 30 days: 2%
- in 31 to 60 days: 70%
- in 61 days or more: 28%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 90%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
The standard payment is based on the average between the shortest and longest terms we do as a company, Some payments will vary month to month depending on when the payment run falls within that month and occasionally we have a legal invoice which would carry a paid on receipt of invoice payment term.
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
121 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The first point of contact for disputes in Corin Limited is the purchasing department. They will work with the supplier and relevant department manager to solve the issue. Once the issues have been resolved, the supplier will need to provide any missing information or a corrected invoice before 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