GOV.UK
PANDROL LIMITED
Company number: 00521438
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 31 January 2020
and approved by Mr Andre Kulas
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 69%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Standard payment period for qualifying contracts
45 days
Standard payment terms
A. UK Suppliers
The standard payment term for Suppliers located in the United Kingdom is the first working day of the second month following the date of invoice (for example, invoices dated between 1st November and 30th November 2019 would be payable on 2nd January 2020). On average this equates to a standard payment term of 46 days from date of invoice.
As an exception to the standard payment terms, UK utility, telecommunications, local authority, vehicle leasing and certain professional services suppliers are paid within 30 days from the date of invoice.
B. Overseas Suppliers
The standard payment term for Suppliers located outside the United Kingdom is within the first five working days of the second month following the date of goods receipt (for example, invoices in respect of goods received between 1st November and 30th November 2019 would be payable by 8th January 2020). Dependent on the transit period this equates to a standard average payment term of between 45 and 80 days from date of invoice.
As an exception to the standard payment terms, invoices from an Australian Group Company are payable within the first five working days of the fourth month following the date of invoice (for example, invoices dated between 1st November and 30th November 2019 would be payable by 6th March 2020). On average this equates to a standard payment term of circa 110 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
110 days
Any other information about payment terms
N/A
Dispute resolution process
The Company has a dedicated Accounts Payable department that is contactable by phone (01909 476101) and email (accounts.payable@pandrol.com). Vendors with invoice or payment queries should contact this team in the first instance to discuss their issues. If the service team are unable to offer a satisfactory resolution the issue can be referred to either the Finance Controller or Finance Director.
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