NATIONAL TYRE SERVICE LIMITED
Company number: 00986754
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
30 July 2019
Approved by:
John Taylor
Payment statistics
Average time taken to pay invoices: 71 days
Invoices paid:
- within 30 days: 5%
- in 31 to 60 days: 25%
- in 61 days or more: 70%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
The Company's standard payment terms vary from contract to contract and credit terms are negotiated and set out at the contracting stage. Terms therefore are between 7days to 90days.
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
Queries are passed to relevant supplier credit control team from the Company's accounts payable team. Escalation through each departments hierarchy and if no resolution, escalations through our CFO and head of finance of respective organisations.
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