SELECTA U.K. LIMITED

Company number: 02605313

Reporting period:
1 October 2018 to 31 March 2019

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This report was filed on 17 April 2019

and approved by Daniel Abrahams

Payment statistics

Average time taken to pay invoices: 99 days

Invoices paid:

• within 30 days: 5%
• in 31 to 60 days: 21%
• in 61 days or more: 73%

Invoices due but not paid within agreed terms: 60%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

180 days

Standard payment terms

60 days from invoice date

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

Reduction in terms from 180 days to 120 days for two suppliers that account for 24% of invoices

Were suppliers notified or consulted about these changes before they were made?

The reductions were part of contractual negotiations between the companies.

Maximum contractual payment period agreed

180 days

Maximum contractual payment terms apply to one supplier (16% of invoices)

Any other information about payment terms

N/A

Dispute resolution process

Suppliers are notified of shortage claims within 24 hours of the goods being received. The invoice will be included in a payment once a credit or a signed POD/delivery note has been received. Pricing discrepancies are handled by the Procurement department who liaise directly with their counterparts to identify and resolve the cause of the differences.

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, 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