GOV.UK
BELRON UK LIMITED
Company number: 00494648
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 27 July 2018
and approved by Taxiarchis Konstantopoulos
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 8%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 42 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
60 days
Standard payment terms
30 days net
Were there any changes to the standard payment terms in the reporting period?
Yes – Terms have been amended on supplier accounts where we have set the accounts up with the incorrect payment terms. Usually these have been amended downward to meet the supplier terms, particularly where there is no contractual agreement in place.
Were suppliers notified or consulted about these changes before they were made?
Yes – Suppliers challenged us regarding their terms so they were aware in advance of the amendments that were being made and these were in favour of the supplier.
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Usually our buyers contact the suppliers to query incorrect charges or non-receipt of goods.
For pricing queries our suppliers will investigate our disputes and raise credit notes where applicable, however usually the invoice is held until the credit has been received before releasing payment.
If the dispute is rejected the buyer will adjust the purchase order value to the higher amount or advise us of their approval, at which point the invoice is released for payment on our next available payment run.
For non-receipt of goods, we usually request a Proof of Delivery, which, when received and investigated, usually leads to the order being receipted and the invoice released for payment. If proof is not available we request a credit to be issued by the supplier.
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