Company number: 02452736
and approved by Gary Carr
Average time taken to pay invoices: 35 days
Invoices paid:
Invoices due but not paid within agreed terms: 41%
0 days
90 days
The Company’s standard contractual payment terms for all qualifying contracts are 60 days from invoice date, however, specific terms can be negotiated and agreed with a supplier. The agreed payment terms are reflected in our contractual documentation and accounting system. There were no changes to standard payment terms in the reporting period.
Answer not provided
N/A
90 days
No further comment provided
N/A
Supplier invoices are processed and passed to business approvers who can approve or reject an invoice. In the event of a dispute it is logged with the supplier via email or on their portal where applicable. The supplier and the relevant Colt authorized person work towards dispute resolution and a credit note may be issued by the supplier once the dispute is agreed. In case the dispute remains unresolved within a reasonable period, the supplier can contact the relevant Colt business contact. The supplier may further contact the Colt Divisional / Finance Head. For any payment related queries, the supplier can also write to APQueryUK@colt.net.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No