COLART INTERNATIONAL HOLDINGS LIMITED
Company number: 03659130
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 28 January 2019
and approved by Jonathan Spight
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 5%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 9 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
These are agreed by Procurement Team
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are directed to the Finance Manager who investigates the issue with the AP team and the person (s) who ordered the goods/ services, if applicable, to establish the facts. If the issue can not be resolved by the Finance Manager it is escalated to the Financial Director and Procurement Manager. The payment would then be made on the next payment run
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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