AMTRUST EUROPE LIMITED
Company number: 01229676
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 31 July 2020
and approved by Scot Garner
Payment statistics
Average time taken to pay invoices: 96 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 13%
- in 61 days or more: 17%
Invoices due but not paid within agreed terms: 48 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The company’s standard payment term is 30 days. Shorter terms might be agreed with some suppliers when a contract is established.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
Procurement can negotiate larger longer-term contracts up to 60 days payment terms.
Dispute resolution process
The main point of contact for disputes is the Accounts Payable Team. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. Where necessary the Accounts Payable Team will refer to the Procurement team and/or the business manager who raised the order to resolve discrepancies.
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.
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