GOV.UK
CRISTAL PIGMENT UK LIMITED
Company number: 00162303
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 29 January 2019
and approved by Paul Barnett
Payment statistics
Average time taken to pay invoices: 74 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 23%
- in 61 days or more: 68%
Invoices due but not paid within agreed terms: 20 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
Our standard payment terms of the business are 60 days from the end of the month in which the invoice is dated. This accounts for 69% of all vendors. 7% of vendors are 5th of the 2nd month following month of invoice, 7% are 30 days from date of invoice, 6% are 30 days from the end of the month in which the invoice is dated and 4% are 10th of the 2nd month following month of invoice.
The remaining 7-8% of terms range from immediate to 90 days from the end of the month in which the invoice is dated, although we only have one vendor on these 90 days terms.
Other terms can be negotiated on an ad-hoc basis for major works/contracts; however, the standard we apply initially is 60 days from the end of the month in which the invoice is dated.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
This will range from 60 to 90 days against our standard terms, dependant on when the vendor’s invoice is dated. Other terms can vary from this as noted above, but the norm will be as noted.
Any other information about payment terms
The maximum term we have is 90 days from the end of the month in which the invoice is dated, but this is only for one vendor. Standard payment terms have not been amended in the reporting period.
Dispute resolution process
We operate a system known as Vendor Invoice Management, whereby invoices are emailed to a designated inbox for processing – invoices-uk.pigment@cristal.com. This inbox should only be used for emailing invoices where there is one invoice per PDF attached document. It is not managed, so invoice queries and statements should not use this address. Vendors who cannot separate their invoices to one invoice per PDF document should use the ‘SBO’ email address below, and Accounts Payable will manually manage invoices sent to the ‘SBO’ email address.
For invoicing and statement queries, vendors should use SBO.acctspayable@cristal.com (‘SBO’ email address). Vendors can also contact us directly by email and telephone for which contact details are available on request. We will respond by email or telephone.
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