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DOUGLAS PARK LIMITED

Company number: SC096516

Reporting period:
1 October 2019 to 31 March 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 1 September 2020

and approved by Alasdair Noble

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 54%
• in 31 to 60 days: 40%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 4 %

Payment terms

Standard payment period for qualifying contracts

3 days

Standard payment terms

Douglas Park Limited’s payment terms vary by supplier and the product or service being provided. Specific agreements are in place which determine the terms available for the purchase of vehicle components which can extend to 60 days credit and for vehicle purchases which range from 3 days to 365 days depending on the manufacturer. The Company accepts the standard credit terms of any suppliers where payment is required to be made by direct debit. Otherwise the standard payment terms of the Company are that invoices will be paid by bank transfer by the end of the month following receipt of the invoice.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

365 days

Any other information about payment terms

N/A

Dispute resolution process

The Company operates a centralised purchase ledger function which is the first point of contact in resolving payment disputes. Where that function cannot resolve the dispute directly, the matter is escalated to the appropriate branch manager to resolve. Head office management carry out regular reviews of ongoing disputes.

In the interest of building good relationships with our suppliers we aim to resolve any issues in an effective and timely manner.

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