INVIBIO LIMITED
Company number: 04088050
Reporting period:
1 October 2018 to
31 March 2019
This report was filed on 26 April 2019
and approved by Richard Armitage
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 32%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 43%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard contractual terms for goods and services is 30 days from invoice date. For intercompany accounts the standard contractual terms is 60 days.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
The main point of contact for disputes is the Victrex Shared Service team, based at Victrex Technology Centre, Thornton Cleveleys, UK. When an invoice is disputed, the supplier will be notified directly at the earliest opportunity by either a member of the Shared Service team, or by the person who raised the purchase order. To resolve a dispute, the supplier is required to provide any missing information, a corrected invoice or a credit note. As communicated to suppliers, Victrex’s Purchase Order number must be quoted on all invoices to be paid.
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.
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