UFP (UK) LIMITED
Company number: 02886891
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 31 July 2020
and approved by S Arshad
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 60%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 27 %
Payment terms
Standard payment period for qualifying contracts
0 days
Standard payment terms
End of month following month of delivery/invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Suppliers notified of delivery discrepancies by email within 1 working day of receipt of delivery.
Suppliers notified of invoice discrepancies by email as soon as they are identified.
The undisputed value of a suppliers invoice are be paid according to the normal terms agreed with the supplier.
Any remaining balance paid when a dispute is resolved.
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.
Yes
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