COLORCON LIMITED

Company number: 00999077

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 30 July 2019

and approved by Stephen Batchelor

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 12%
• in 31 to 60 days: 52%
• in 61 days or more: 36%

Invoices due but not paid within agreed terms: 75%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

UK STANDARD - Weekly payment run following 60 days after date of Invoice

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

120 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Should a supplier need to contact Colorcon’s accounts payable department, an email address is available on every purchase order the supplier receives or they may contact them via the Colorcon main switchboard. Direct dial numbers are also provided to suppliers as required for the Accounts Payable department and, in the event that the supplier needs to escalate the inquiry, the Financial Controller and the Finance Director. The accounts payable department aims to resolve issues as promptly as possible and, in any case, after no longer than 3 to 5 working days.

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