GANTRADE EUROPE LIMITED
Company number: 01712339
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
28 January 2021
Approved by:
HA PAREKH
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 22%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Gantrade Europe commits to the payment of all undisputed sums due to 3rd party suppliers within the agreed credit terms. The majority of suppliers in the UK have standard terms of 30 days. On average we take 20 days to pay third party suppliers
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
Suppliers are encouraged to contact the company accounts payables team in order to discuss queries. Disputed amounts will be referred to the relevant department manager and where necessary discussed with the supplier contact. The dispute can be further escalated to the financial controller and resolved with the appropriate action.
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