AXMINSTER TOOL CENTRE LTD
Company number: 03326979
Reporting period:
1 May 2019 to 30 April 2020
Report filed on:
13 May 2020
Approved by:
Michael Trimble
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 29%
- in 61 days or more: 24%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 70%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
101 days
Standard payment terms
The most common term (applying to 56% of payments) is 30 days following the end of the month of invoice.
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
101 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers providing stock for resale are allocated to our Product Management team and responsibility for dispute resolution belongs to that individual and team. Other suppliers will be contacted by the manager of the team raising the purchase orders/ responsible for ordering that good or service. Directors will become involved at the request of either the supplier or department's manager.
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.
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