ASTUS UK LIMITED
Company number: 04655574
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
20 July 2020
Approved by:
Lindie Struweg
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 14%
- in 61 days or more: 12%
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: 10%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Specific TV, Press and Online suppliers are paid within 30 days as required by TV and NMA regulations. House, Goods and Services Suppliers are paid based on the vendors payments terms, e.g. goods and services are often paid on receipt of invoice, and house invoices are often payable within 30 days. Cinema, Outdoor, Online and Radio invoices are paid once we have received satisfactory confirmation from our agencies that the client is happy with the campaign, usually paid in the first week of every month.
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
Our maximum payment period would be within 90 days; however, this is not contractual.
Any other information about payment terms
No further comment provided
Dispute resolution process
If a dispute is raised this would be raised with the vendor directly. We would investigate any documentation provided confirming that the billing is correct (or not). We would then agree to have our system amended to be able to account for the invoice or ask the vendor to arrange for a credit note, depending on the outcome of the investigation. Complaints would be dealt with by the AP manager, escalating to the Finance Director should this matter not be resolved to the vendor’s satisfaction.
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