DERMAL LABORATORIES LIMITED
Company number: 01594795
Reporting period:
1 June 2020 to 30 November 2020
Report filed on:
19 January 2021
Approved by:
M J Yarrow
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 20%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 72%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
As a business, we do not wish to impose payment periods on any of our suppliers. As with our reference to payment terms above, we settle trade accounts based on the payment periods, terms and conditions expressed by our suppliers or as close to them as we are able. The most commonly used terms used during the reporting period were 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If a supplier’s invoice is disputed by the company, the company’s buyer will contact the supplier in order to clarify any discrepancy and resolve the issue.
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