GOV.UK
SINCLAIR INTERNATIONAL LIMITED
Company number: 02645817
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 1 August 2019
and approved by Colin Woodward
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 3%
- in 31 to 60 days: 74%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 3 %
Payment terms
Standard payment period for qualifying contracts
7 days
Standard payment terms
Standard Payment terms are N31. The exceptions to this will be where the 1st of a month is not on a Friday which is the standard payment day. Result of this is a potential maximum terms taken of N37. Suppliers are notified verbally of actual planned payment dates. Other exceptions include supplier negotiated terms of less or more than than N31. These can vary but are agreed in collaboration with the supplier’s requirements
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Payment disputes as highlighted by The Company; In the unlikely event that an incorrect payment is discovered via reconciliation controls; the company would advise the supplier verbally and come to a suitable agreement of resolution
Payment disputes as highlighted by the Supplier; close supplier relationships mean these can be discussed verbally and if a further payment is required it will be cleared at the next earliest opportunity
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.
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