DAI EUROPE LTD
Company number: 01858644
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
15 August 2019
Approved by:
Michael James Jakobowski
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 12%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
The supplier is required to submit an invoice to DAI for services and expenses within 30 days from the end of the month in which the services were performed and/or the relevant costs were incurred. Each invoice must be dated, and the services undertaken and allowable expenses incurred and invoiced by the supplier. DAI requires that all contracted suppliers (either consultants or subcontracts) submit monthly timesheets as well as evidence of expenditure for any allowance expenses. DAI will pay all invoices verified in accordance with the above within 30 days of receipt or otherwise notify the supplier of any deficiencies relating to a submitted invoice, timesheet or evidence. DAI may withhold payment of any invoice, in full or in part, that DAI disputes in good faith and DAI reserves the right to deduct from the amount due to the supplier any sum owed to DAI by the supplier.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
DAI believes that the vast majority of disputes between suppliers and DAI can be solved through dialogue rather than through a structured arbitration process. As a result our contracts state that where a dispute arises between the parties then designated contractual representatives shall discuss and negotiate in good faith to resolve the issue. If this is unsuccessful then senior representatives of both parties shall discuss and attempt to resolve. In the very unlikely event this is unsuccessful then the parties agree the English courts have jurisdiction to hear the dispute.
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.
Yes, this business has signed up to: The Prompt Payment Code
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