GOV.UK
ALFRED H. KNIGHT INTERNATIONAL LIMITED
Company number: 00900322
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 6 July 2020
and approved by Ian Baxter
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 40%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 5 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Alfred H Knight International Ltd has standard payment terms agreed with the supplier on initial set up of 30 days from the end of month of invoice. Due to this, the standard payment terms can be as short as 30 days or as long as 60 days. The main BACS payment run is completed mid-month and all invoices from the previous month are paid, therefore payment is typically (85% in this payment period) in the 15-45 day range.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Alfred H Knight International Ltd typically doesn't deviate from the standard payment terms, however, under exceptional circumstances there are some suppliers who have negotiated shorter payment terms e.g. 7 or 14 days.
Any other information about payment terms
N/A
Dispute resolution process
The employee within Alfred H Knight International Ltd responsible for raising the purchase order will also be responsible for authorising the invoice. If there is a dispute then this same person will be responsible for liaising with the supplier to settle the dispute and communicate the resolution to the accounts payable department.
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