JOULES LIMITED
Company number: 02934327
Reporting period:
27 May 2019
to 22 November 2019
This report was filed on 23 December 2019
and approved by Marc Dench
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 48%
- in 61 days or more: 25%
Invoices due but not paid within agreed terms: 39 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Joules Limited does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period is net 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Joules Limited does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period is net 30 days.
Any other information about payment terms
Joules Limited seeks to pay all suppliers within agreed payment terms and on time subject to receiving the invoice and accurate supporting information in a timely manner.
Dispute resolution process
Disputes are resolved by negotiation involving the relevant parties - accounts payable and credit control departments; buying and sales teams.
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