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LOOMIS UK LIMITED

Company number: 03200432

Reporting period:
1 July 2020 to 31 December 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 15 January 2021

and approved by Timothy D Gibbs

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 85%
• in 31 to 60 days: 8%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 34 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

Loomis UK Limited's standard payment terms are 30 days for qualifying contracts. There are however a few exceptions to this rule, ranging from immediate payment terms for utilities, to 60 days terms for a few contracts.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

In the first instance any disputes are raised with the Accounts Payable Manager.
Disputes or queries are then investigated with the relevant Business Manager.
A response or resolution is then provided to the supplier as soon as the dispute/query has been investigated.

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