GOV.UK
KNAUF INSULATION LIMITED
Company number: 01926842
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 31 January 2020
and approved by Alexandre Laurent
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 52%
- in 61 days or more: 17%
Invoices due but not paid within agreed terms: 64 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
30 days end of month following date of invoice, 30 days from the date of invoice and 45 days from the date of invoice are the most standard terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
All information provided is based upon invoice dates and payment dates within our ledgers and has not been adjusted for delays as a consequence of non-receipt of invoices, vendor disputes or invoice queries.
Any other information about payment terms
N/A
Dispute resolution process
Disputes are co-ordinated through the accounts payable department, using SAP workflow management software. Invoices with no PO will be rejected back to the vendor. All disputes are sent to the appropriate internal department and/or purchasing depending on type of query. Once resolved accounts payable are informed and the invoice will be processed and the invoice will be processed with any credit note if applicable then paid on the next payment run.
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