GOV.UK
FINNING (UK) LTD.
Company number: 00367090
Reporting period:
1 January 2018
to 31 December 2018
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 5 April 2019
and approved by Mark Hogg
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 47%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 29 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Our standard terms are 60 days end of month
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Payment disputes are handled by the Accounts Payable team, with support from the invoice contact within the company. In the event that a satisfactory outcome cannot be reached at this stage, the issue will be escalated within the organization until the dispute is resolved. Finning Uk Ltd also operates a strict No PO No Pay Policy, all invoices are returned to the supplier by email with a covering letter.
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