DANISCO (UK) LIMITED
Company number: 02271469
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
25 September 2020
Approved by:
stephen reeve
Payment statistics
Average time taken to pay invoices: 67 days
Invoices paid:
- within 30 days: 25%
- in 31 to 60 days: 13%
- in 61 days or more: 62%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms: • Third party invoices o Standard contractual length for payment of invoices: Net 90 days from the receipt of the invoice. Only if not agreed otherwise, the law says the payment is late after 30 days. o Maximum contractual payment period: Net 90 days from the receipt of the invoice • Intercompany invoices o Standard contractual length for payment of invoices: Net 30 days from the invoice date for service invoices and Net 60 days from the invoice date for trade invoices o Maximum contractual payment period: Net 60 days from the receipt of the invoice
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
• Third party invoices o Standard contractual length for payment of invoices: Net 90 days from the receipt of the invoice. Only if not agreed otherwise, the law says the payment is late after 30 days. o Maximum contractual payment period: Net 90 days from the receipt of the invoice
Any other information about payment terms
• Intercompany invoices o Standard contractual length for payment of invoices: Net 30 days from the invoice date for service invoices and Net 60 days from the invoice date for trade invoices o Maximum contractual payment period: Net 60 days from the receipt of the invoice
Dispute resolution process
Business process for resolving disputes: the accounts payable department is informed by the invoice resolver of disputes so the payment is put on hold. Disputes are resolved ad hoc by business or functions responsible.
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 Fair 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