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PROMENS PACKAGING LIMITED

Company number: 04846267

Reporting period:
1 April 2019 to 30 September 2019

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

This report was filed on 30 October 2019

and approved by Jason Greene

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 21%
• in 31 to 60 days: 42%
• in 61 days or more: 37%

Invoices due but not paid within agreed terms: 67 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

120 days

Standard payment terms

Between 30 days and 120 days from the date of invoice depending on supplier.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

120 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Other than where there is a material dispute, which is escalated to head office, disputes are handled on an individual site basis; it is the site’s responsibility to engage with a supplier to agree a form of resolution. Disputes, and resolutions to these, including those that have been escalated to head office, should be communicated to the relevant purchase ledger team for them to be recorded in our systems for processing.

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