CRODA EUROPE LIMITED
Company number: 00167236
Reporting period:
1 December 2019
to 31 December 2019
This report was filed on 22 January 2020
and approved by Chloe Frankish
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 55%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
110 days
Standard payment terms
Our standard payment terms are payment on 6th or 20th of a given month following invoice e.g. 2M06 whereby an invoice received on 15 January would be paid on 6 March.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
110 days
We apply one of our standard terms depending on the nature, size and relationship with the business in question. We offer reduced terms where we deal with small scale, local or sole trader businesses.
Any other information about payment terms
N/A
Dispute resolution process
We deal with very few disputes in relation to payment terms and identify a resolution within days. We document agreement to payment terms with vendors before beginning any new business but aim to find a suitable resolution depending on the nature and scale of the business.
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.
Yes
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