DTR VMS LIMITED
Company number: 06703842
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
24 January 2019
Approved by:
SH Kim
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 62%
- in 61 days or more: 11%
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: 93%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
0 days - same day payment 20 days - net end of month 30 days - net end of month 45 days - net end of month 60 days - net end of month
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
180 days
This relates to Group Companies located in Korea and China - it is to compensate for the long shipping times
Any other information about payment terms
N/A
Dispute resolution process
Value discrepancies - query is sent to Purchasing Department for them to resolve with supplier. Faulty Goods / Quantity discrepancies - DTR contacts the supplier to resolve the issue
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