SWIZZELS MATLOW LIMITED
Company number: 00562269
1 January 2020
to 30 June 2020
This report was filed on 30 July 2020
and approved by Mr J A Dee
Average time taken to pay invoices: 42 days
- within 30 days: 32%
- in 31 to 60 days: 56%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 12 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
The company does not use standard payment terms but the most frequently used tersm are 60 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
The company does not have a predetermined maximum payment period - it will vary according to terms negotiated with the supplier and the nature of supply
Any other information about payment terms
Dispute resolution process
In the event of an invoice being disputed the relevant manager is responsible for discussing with the supplier the reasons for the dispute and reaching agreement on how to proceed. Resolution of the dispute will normally result in the issuing of a credit note or the replacement of the goods.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?