HEATHROW TRUCK CENTRE LIMITED
Company number: 02067793
Reporting period:
1 October 2017 to 31 March 2018
Report filed on:
23 April 2018
Approved by:
James Hewitt
Payment statistics
Average time taken to pay invoices: 81 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 18%
- in 61 days or more: 60%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 36%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard payments terms are 30 days.
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
60 days
None
Any other information about payment terms
No further comment provided
Dispute resolution process
Query will be logged with the suppliers by the person who is authorizing the invoice and the invoice will be placed on "Hold" in system. When supplier chase for payment for overdue, AP team follow up with query internally and with supplier. If not resolved, being escalated to Manager. If it is a matter of requesting POD or backups, AP team liaise with supplier directly to avoid delay in payment. From the point dispute arise, AP team acts straightaway and try to resolve by next payment run so it can be included in payments.
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.
Yes
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.
Yes
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