GOV.UK
QUALASEPT LIMITED
Company number: 05548345
Reporting period:
1 May 2019
to 31 October 2019
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 25 November 2019
and approved by Chris Fountain
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 37%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 35 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
One supplier's payment terms are end of month plus 60 days
Any other information about payment terms
Major supplier has increased our credit limit so that less frequent payments need to be made.
Of the invoices not paid within terms 64% were paid less than 4 days late reflecting the timing of the weekly payment run.
Dispute resolution process
Any discrepancies between invoice and delivery are fully investigated internally and the findings discussed with the supplier with a view to resolving the difference.
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