ADVANZ PHARMA SERVICES (UK) LIMITED

Company number: 04678629

Reporting period:
1 July 2019 to 31 December 2019

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This report was filed on 29 January 2020

and approved by Vikram Kamath

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

• within 30 days: 54%
• in 31 to 60 days: 45%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 47%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

180 days

Standard payment terms

The Company follows a standard payment terms of "30 days end of the following month, in which the invoice is received". For Intercompany Vendor's the standard terms are "180 days from the date of invoice".

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

180 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

a) In case of any invoice disputes, the relevant department within the company availing the services is informed by email. The relevant department would then inform the vendor via email/phone of the nature of dispute and get it resolved. b) In case of disputes relating to services, the relevant department before approving the costs would inform the Vendor over an email. In case the invoice is considered to be correct, the same is internally approved and paid. c) For minor invoice errors, the Finance department may send an email directly to the relevant finance contact on Vendor side.

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