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LINX PRINTING TECHNOLOGIES LIMITED

Company number: 02066629

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 14 February 2019

and approved by Harry Sandhu

Payment statistics

Average time taken to pay invoices: 72 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 32%
• in 61 days or more: 53%

Invoices due but not paid within agreed terms: 81 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

90 days

Standard payment terms

Linx does not have standard terms. When a supplier is engaged payments are subject to negotiation. Linx is part of a large US corporation which uses common suppliers, so we are often able to leverage payment terms agreed with our parent company. For large suppliers of raw materials who are often overseas suppliers we typically have terms of 60 to 90 days. With smaller suppliers and providers of labour services it is 30 days or less.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Linx purchasing department initially negotiates terms with suppliers and any subsequent negotiations or disputes

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.

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