LINEAGE UK WAREHOUSING LIMITED
Company number: 00556895
Reporting period:
1 October 2019 to 31 December 2019
Report filed on:
14 February 2020
Approved by:
Phil Whitworth
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 36%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
The most common terms we have for paying suppliers is End of Month Following. That is we intend to pay at the end of the calendar month following invoice date (eg May invoice would be paid at the end of June). This has been converted to 45 days as (30 days in a month plus 15 days to accounts for timing of date of invoice). The standard terms offered are usually dependent on the the type of supply received, .
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
We will only dispute invoices if there is a quality or delivery issue or if theree is a price difference between order and invoice. The dispute will be dealt with through our purchase invoice approval system, if the dispute isn't resolved through the approval system or through communication with the supplier by means of credit note or proof of delivery, we will attempt to agree with the supplier as to how best resolve the dispute. If our supplier feels the need to seek court action to force payment, we will defend our position as appropriate on a casa by case basis.
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.
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