CROWCON DETECTION INSTRUMENTS LIMITED
Company number: 00978878
Reporting period:
1 October 2019 to 31 March 2020
Report filed on:
30 May 2020
Approved by:
Terence McCarthy
Payment statistics
Average time taken to pay invoices: 65 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 44%
- in 61 days or more: 13%
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: 6%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard credit terms are either 30 or 60 days. These are most commonly split by 30 days for home suppliers and 60 days for overseas suppliers, although that is exclusively the case.
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
90 days
For a supplier on 60 days end of month terms if the invoice is dated the 1st of the month then we effectively have terms of 90 days
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes in all cases are first dealt with by the respective department and vendor in timely and professional manner. Our standard terms do allow for Independent Arbitration before any legal proceedings are considered. In the reporting period no formal proceedings were required.
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