WESSEX GARAGES HOLDINGS LIMITED
Company number: 02639755
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
6 November 2020
Approved by:
Chris Wiseman
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 61%
- in 31 to 60 days: 13%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 32%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
180 days
Standard payment terms
Standard payment terms vary by supplier and are either a set number of days after the invoice date or a set number of days after the month end of the month in which the invoice is raised.
Typically 30 days after end of month or 30 days after the transaction date.
Were there any changes to the standard payment terms in the reporting period?
Key suppliers extended payments due to Coronavirus. They deferred direct debits by up to 120 days in some cases.
Were suppliers notified or consulted about these changes before they were made?
The offer to extend terms came from the supplier.
Maximum contractual payment period agreed
180 days
This only applies to the purchase if New Vehicles which are funded for 180 days.
Any other information about payment terms
No further comment provided
Dispute resolution process
Dispute resolution is handled by the procuring manager and the Finance team.
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