DENSO MARSTON LTD

Company number: 00305275

Reporting period:
1 April 2020 to 30 September 2020

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This report was filed on 23 October 2020

and approved by Mr Vineet Verma

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 41%
• in 31 to 60 days: 42%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 34%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

DENSO Marston's standard payment terms for "direct" supplies are 60 days from invoice, however we respect individual suppliers' terms in many cases, particularly smaller ones. Our policy is always to pay to the agreed terms, unless there is an unresolved query.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

A number of suppliers have agreed 90 day terms, typically where long distance sea freight is involved.

Any other information about payment terms

N/A

Dispute resolution process

DENSO Marston is committed to making timely payment for all products and services. In the event of an invoice query the supplier will contact the Accounts Payable team who will attempt to resolve the query as soon as possible, in conjunction with the relevant departments.

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, 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.

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