CHELTON LIMITED
Company number: 00896823
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
28 January 2021
Approved by:
Matthew Bealey
Payment statistics
Average time taken to pay invoices: 57 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 45%
- in 61 days or more: 41%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 75%
Payment terms
Shortest standard payment periods
75 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard contractual length for payment of invoices is 75 days from receipt of invoice. We do
however undertake specific negotiations with suppliers in certain circumstances which may be
informed by, amongst other considerations, our own payment receipts profile from ultimate end
users of our products and flow down contractual requirements from our own customers.
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
75 days
N/a
Any other information about payment terms
N/a
Dispute resolution process
Suppliers are notified of any changes to these policies in writing and during the ordering process for
parts and services. Disputes related to payment can be raised by suppliers directly with local
finance teams, the procurement team and business general manager either verbally or in writing.
Any query or dispute raised is addressed as soon as practical and the supplier engaged as
appropriate.
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