ARROW XL LIMITED
Company number: 04358875
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
19 July 2019
Approved by:
Richard Neal
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 45%
- in 61 days or more: 37%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 97%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms for goods and services are 60 days, which is also the maximum terms. However, contractual payment terms do vary between 0 and 90 days, with over 97% of suppliers on terms of 60 days or less, and 85% on 45 days or less. There have been no changes to the standard payment terms or payment practices in this reporting period.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
Contractual payment terms do vary between 0 and 90 days, with over 97% of suppliers on terms of 60 days or less, and 85% on 45 days or less.
Any other information about payment terms
No further comment provided
Dispute resolution process
Payment disputes are initially dealt with by Accounts Payable Team which is lead by the Transaction Processing Manager, but if necessary will be referred to the Head of Finance or Chief Financial Officer of the business for resolution.
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 Fair 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