MEXICHEM UK LIMITED
Company number: 07088219
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
10 September 2019
Approved by:
Dave Smith
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 49%
- in 61 days or more: 31%
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: 47%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
123 days
Standard payment terms
First day of the third month following the month of invoice
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
123 days
No further comment provided
Any other information about payment terms
We run only 3 payment runs per month. 1st business day, 10th business day and last business day. By the last business day we have no overdue payments in our accounts.
Dispute resolution process
There are two forms of agreement with vendors. Either there is a signed acceptance of the Mexichem standard terms and conditions or there is a formal contract or supply agreement signed by both parties. The payment terms included in either form of agreement are then used to update the vendor master data records. If the vendor challenges the terms, the Buyer or authorised representative of Mexichem will be tasked to reach agreement with the vendor and will then arrange for master data changes to be made if required.
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