PREMIER FARNELL UK LIMITED
Company number: 00860093
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 29 January 2019
and approved by Liam Heffernan
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 36%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 68 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
The company does not operate standard payment terms. The majority of suppliers are on 30 days from date of invoice or 30 days from end of month. However, supplier payment terms may range from 0 days to 60 days from end of month.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Questions relating to payment of supplier invoices should in the first instance by raised with the Accounts Payable department. In the case of queries around supply of inventory, the query may be referred on to the Asset Operations department for further investigation. The company aims to resolve all disputes as quickly as possible dependent on the nature of the query.
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