DAMARTEX UK LIMITED

Company number: 00852773

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 11 July 2019

and approved by Stuart Creeley

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 42%
• in 31 to 60 days: 47%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 20%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

30 days net monthly meaning add 30 days to the invoice date and pay at the end of that calendar month

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

All invoices are received first into the Finance Department and recorded on our purchase ledger system. The invoices are sent to the originating purchasing manager for approval in accordance with our Limits of Authority mandate. Any disputes are settled between the supplier and the originating purchasing manager.

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