Company number: 02095375
and approved by Mr Trevor Fahy
Average time taken to pay invoices: 45 days
Invoices paid:
Invoices due but not paid within agreed terms: 27%
30 days
60 days
Crown Travel Limited standard payment terms are 30 days from receipt of invoice on normal qualifying contracts unless specifically agreed although many suppliers offer net monthly payment terms. The creditors are paid twice monthly with payment runs being produced every two weeks. This results in suppliers being paid for invoices both before and after the 30 days standard terms. As suppliers offer net monthly payment terms these invoices tend to be paid at 45 days after the invoice date and the shortest standard terms do not apply to these accounts. For net monthly accounts, invoices received in month one are paid in month two.
Answer not provided
N/A
60 days
No further comment provided
The information provided covers 48 active suppliers in the reporting period. As a travel company some of our suppliers are not UK organisations and we also pay in multiple currencies. UK based suppliers are mostly paid by BACS with a few paid by bank transfer. Our non UK suppliers are paid either by bank transfer or SEPA depending on country.
The Company is committed to dealing with its suppliers in a fair, honest and professional manner and as close to contractual terms as we possibly can. We do our utmost to resolve queries quickly and to everyone’s satisfaction. It is important to us that there is no negative impact on our customers experience and our supplier relationships are essential in delivering the first class services our customers expect. A close working relationship and good payment performance is paramount in our business. All our suppliers have a personal point of contact with the Accounts Payable Department and either email or telephone the team member to discuss payment concerns. The Accounts Payable Executives and Team Leaders will work closely with the supplier and our departments to understand why an invoice is not approved or not yet paid. Every effort is made to ensure the invoice is included in the next payment run or if necessary an additional payment is requested.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No