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INVICTA MOTORS LIMITED
Company number: 00186518
Reporting period:
1 September 2019
to 29 February 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 18 March 2020
and approved by James Mullins
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 18%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
5 days
Longest standard payment period
60 days
Standard payment terms
5 days for vehicles and up to 30 days in the month following invoice for other suppliers
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
The manager of the relevant department will query a disputed invoice with the supplier to either request a full or partial credit or to agree to make full payment.
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