ROCHE PRODUCTS LIMITED
Company number: 00100674
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
6 February 2020
Approved by:
Kezia Vitug
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 45%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
Our standard payment terms are 60 days from invoice date, but our payment terms are negotiated on a case by case basis
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
1) Disputed invoices are queried with the supplier immediately after the discrepancy is notified. Most common queries are in relation to pricing, quantities and missing purchase order numbers. Payment of such invoices are then withheld pending resolution. This process is owned by our Accounts Payable team.
2) Accounts Payable deal with the supplier responses, process supplier credit notes and release payments against cleared invoices.
3) Accounts Payable liaise with internal points of contact to get the queries resolved as soon as possible.
4) Accounts Payable liaise with suppliers to obtain and process any missing invoices and to confirm payment details.
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 Fair 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.
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.
Yes
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