F.W. EVANS CYCLES (UK) LIMITED
Company number: 02784079
Reporting period:
29 October 2017
to 28 April 2018
This report was filed on 29 June 2018
and approved by Steve Trowbridge
Payment statistics
Average time taken to pay invoices: 69 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 29%
- in 61 days or more: 56%
Invoices due but not paid within agreed terms: 73 %
Payment terms
Standard payment period for qualifying contracts
0 days
Standard payment terms
Non-stock invoices generally 30 days. Stock invoices generally 60 - 90 days. Some direct supply own brand partners are paid a 0 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
Any other information about payment terms
N/A
Dispute resolution process
Any disputed invoices are taken up in the first instance with the relevant authorising manager. If this can not resolve it then the supplier can take the issue up directly with the Finance Manager and then the Finance Director. To date we have not had any disputed invoices be escalated further than the Finance 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
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