CAMPACT LIMITED
Company number: 02258069
Reporting period:
1 May 2019 to 31 October 2019
Report filed on:
27 November 2019
Approved by:
Bernd Steinlechner
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 51%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 85%
Payment terms
Shortest standard payment periods
20 days
Longest standard payment period
60 days
Standard payment terms
Unless the order stipulates otherwise the Company shall pay the price of the goods at the end of the month following the month of delivery of the sellers invoice for the Goods to the Company. Therefore the maximum payment period could be 60 days. The exception to this are for specific billing in relation to the supplies of specific materials and services, which are on the terms of 20 days.
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
76 days
15th day of the second following month
Any other information about payment terms
Payments to suppliers under qualifying contracts are made once per week, clearing with that supplier each Monday or the next business day if that Monday is a bank holiday. Payments made on this day include amounts which are due up to an including that day. Therefore, for example, if a payment is due on a date which falls on a Tuesday to Sunday, this will not be cleared with the supplier until the following Monday. This is normal practice for the company and suppliers are made aware of it, but it is not written in to the formal agreements. Adjusting for this normal practice, 34% of payments would be class as not being paid within the agreed payment period.
Dispute resolution process
With regard to disputes, suppliers should refer to the terms of trade and the terms and conditions of the purchase, and contact the individual who placed the order for the company. If the matter is not able to be resolved, it is then referred to the Purchasing Manager.
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