GOV.UK
STAX TRADE CENTRES LIMITED
Company number: 02235950
Reporting period:
1 March 2020
to 29 August 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 23 December 2020
and approved by Taylor Boyd
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 45%
- in 61 days or more: 37%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
The standard payment terms are 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
231 days
The maximum contractual payment period was for a preseason agreement.
Any other information about payment terms
For the current period 23% of invoices were not paid within the agreed terms due to invoice queries and invoices received late. We had a lot of suppliers who were closed due to Covid in the payment period which also caused a delay in payments.
Dispute resolution process
Queries are dealt with by the Purchase Ledger department on a daily basis.
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.
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