PLATINUM INTERNATIONAL LIMITED
Company number: 04397197
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 31 January 2019
and approved by John Coombes
Payment statistics
Average time taken to pay invoices: 94 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 44%
- in 61 days or more: 19%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
Standard terms are 60 days for supply to do with general operating activities. Stock supplies will be extended as negotiated with each supplier
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
150 days
Any other information about payment terms
N/A
Dispute resolution process
The purchase ledger team will identify any possible invoice disputes and seek to resolve them with the authorising departmental manager, this will often be involved with the manager contacting the supplier to obtain a credit note or replacement of damaged / missing goods.
In the unlikely event of the dispute not being resolved, the company will enter into negotiations with supplier to reach a mutually acceptable agreement for both parties.
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