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DE MONTFORT FINE ART LIMITED

Company number: 02402634

Reporting period:
1 August 2018 to 31 January 2019


Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 23 October 2019

and approved by Grenvill Cheetham

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

Invoices due but not paid within agreed terms: 2 %

Payment terms

Shortest standard payment period

5 days

Longest standard payment period

60 days

Standard payment terms

DeMontfort Fine Art's payment practice is to have two payment runs to vendors a month, one on or around the 15th of the month and the other on the last working day of the month.

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

At DeMontfort Fine Art, we appreciate how important our vendors are to our business and we are committed to dealing with them in an open, honest, and professional manner. The main point of contact for disputes is the Purchase Ledger Team. To resolve a dispute, the vendor is required to provide any missing information, corrected invoice or credit note.
If the Purchase Ledger Team are unable to resolve the dispute, the issue is escalated to the person who raised the purchase order / purchaser who is then responsible for resolving the issue. Once the dispute is resolved, we will pay the outstanding invoice on the next payment run.

All queries can be emailed to vendors@dmfa.co.uk

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