BETA This is a new service – your feedback will help us to improve it.

STREVENS VEHICLES HOLDINGS LIMITED

Company number: 02692287

Reporting period:
1 July 2018 to 31 December 2018

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 2 July 2019

and approved by Nigel Strevens

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 9%
• in 31 to 60 days: 81%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 17 %

Payment terms

Shortest standard payment period

45 days

Longest standard payment period

180 days

Standard payment terms

The Group has always adopted a fully supportive role with its creditors. Any dispute arising with invoices is communicated directly by the department to the supplier. The department also notifies the accounts payables team with notes relating to the dispute being recorded on the Group management information system. All disputed invoices are dealt with in an open and timely manner.

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

No

Maximum contractual payment period agreed

180 days

Any other information about payment terms

N/A

Dispute resolution process

The group dispute resolution process is in accordance with ISO9001 and includes the standard escalation and complaints procedures. No enforcement action is taken in advance of dispute resolution procedures being worked through.

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

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.

Yes

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