XMA LIMITED
Company number: 02051703
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
31 January 2019
Approved by:
C Batchelor
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 9%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
135 days
Standard payment terms
End of month following date of invoice. Except for group entity Westcoast Ltd, payment terms changed from June 2018 from monthly by consolidated invoice to weekly by transactional invoice.
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
135 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Reasons for not being able to pay based on terms include receiving late or non compliant invoices (including no purchase order) or invoices that are in dispute. We have a accounts payable team which is reachable by email. Vendors with invoice queries can contact this team. The accounts payable team will reach out to the internal business contacts to investigate why the invoice has not been approved for payment.
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.
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