COOPERVISION MANUFACTURING LIMITED
Company number: 02737396
1 November 2018
to 30 April 2019
This report was filed on 30 May 2019
and approved by Richard Cheshire
Average time taken to pay invoices: 48 days
- within 30 days: 30%
- in 31 to 60 days: 56%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 27 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Company standard terms are 60 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Exceptions to Company standard terms may be authorised as part of the contract negotiations where mutually beneficial terms may be agreed.
Dispute resolution process
Where an invoice is subject to a dispute or query, the full invoice will be held in dispute until an agreement is reached between both parties. A credit note must be raised by the supplier immediately upon a dispute being upheld. Payment of the invoice will be made once the credit note has been received and validated, and the due date is achieved.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?