WANZL LIMITED

Company number: 01403566

Reporting period:
1 July 2019 to 31 December 2019

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This report was filed on 23 January 2020

and approved by DEAN ROLLAND

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 23%
• in 31 to 60 days: 69%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 8%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

90 days

Standard payment terms

Wanzl UK Standard Payment terms for qualifying contracts can be broadly categorised as: 1) 30 days End of Month 2) 60 days End of Month 3) Non-Credit Accounts

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

none

Any other information about payment terms

none

Dispute resolution process

Disputes Resolution Process: 1) Business adopt key procurement process of: a) raising PO's, b) PO approval by authorised staff c) Confirming receipt of Goods & service before processing invoice on system d) matching supplier invoice to PO 2) Concerns are raised to Purchase Ledger department via phone/email 3) Depending on nature of issue, linked parties including procurement officer/manager, and personnel requesting/agreeing the spend are included to support dispute resolution. 4) Invoices remains on query until investigations are completed, with general business policies to complete investigation with reasonable priority. 5) Once there is evidence (or Not) of disputes being substantiated, Accounts Payable/(Finance) team/ Expense requestor/Procurement officer would communicate back to supplier with actions.

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, 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