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WE BUY ANY CAR LIMITED

Company number: 05727953

Reporting period:
30 March 2020 to 27 September 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 27 October 2020

and approved by Paul MacMahon

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 71%
• in 31 to 60 days: 20%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 43 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

It is Company policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settles trade payables on 30 day terms, however variations to these terms do exist based on agreements with certain suppliers. For business to business vehicle purchases, the terms vary between 0 and 4 days.

Standard payment terms as reported here also impacted by payment terms to companies within the BCA Group.

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

Covid-19 period has resulted in delay in supplier payments. Payments were limited during the period and required additional approval.

Dispute resolution process

Disputes should be raised in the first instance with the purchase ledger team by telephone or e-mail. Queries will be considered and resolved by the purchase ledger team in the first instance, through discussion and agreement with the supplier. Should this team be unable to resolve a dispute, they would refer to the supplier’s applicable contract, which will inform the procedure to be followed to resolve a dispute.

Although the Company aims to resolve queries with suppliers in a timely manner, the actual timescale for resolution will vary depending on the underlying query.

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