CEREFORM LIMITED
Company number: 00346958
Reporting period:
17 September 2018 to 16 March 2019
Report filed on:
10 April 2019
Approved by:
Ian Smith
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 7%
- in 31 to 60 days: 48%
- in 61 days or more: 45%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 89%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are 60 days DOI.
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
90 days
The maximum contract is 90 days EOM
Any other information about payment terms
AB Mauri UK & Ireland operate fortnightly payment runs, with some exceptions for Suppliers on shorter terms i.e. advance payment of invoices / one off payments. If the invoice matches the Purchase Order, it will be approved straight away on receipt and added to the next payment run. If there is no purchase order, or the invoice is in query, it goes to the budget holder to review and approve. This could take up to a week before the invoice is returned to Finance and approved. Invoices that are received late will follow the same process and may cause late payment depending on how late they were received originally
Dispute resolution process
All disputes must be notified to the email address: purchaseledger@cereform.com. Extract from the standard terms issued to all suppliers upon set up of a purchase order: If a dispute or difference arises out of these terms and conditions, without prejudice to any rights either party may have (including but not limited to the right to obtain injunctive relief and any right of the Buyer if it reasonably believes that the Seller has repudiated the Contract or is in material breach), either party may request that the parties attempt to settle it first by negotiation. If the parties have not settled such dispute within 21 days of the commencement of negotiations the parties will attempt to settle it by referring the matter to their respective general manager (or other relevant senior manager as may be agreed by the parties) who will attempt to resolve such dispute.
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.
Yes, this business has signed up to: Prompt Payment Code
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