PORT OF TILBURY LONDON LIMITED
Company number: 02659118
Reporting period:
1 January 2020 to
30 June 2020
This report was filed on 30 July 2020
and approved by Carole Cran
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 22%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 62%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
45 days
Standard payment terms
It is the Group's policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settled trade payables on 45 days terms, however variations to these terms do exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner whilst seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalate in the first instance to the relevant Head of Department to seek a resolution.
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, 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