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ALLNEX RESINS UK LIMITED

Company number: 05235281

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 27 July 2018

and approved by Duncan Taylor

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 44%
• in 31 to 60 days: 38%
• in 61 days or more: 18%

Invoices due but not paid within agreed terms: 67 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

90 days

Standard payment terms

Allnex Resins UK Ltd has set standard payment terms with its suppliers up to 90 days from date of invoice.
If invoices fall due on a weekend or between planned payment runs, these are paid in the next available run.
Terms may vary in accordance with individual supplier agreements.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Allnex Resins UK Ltd has a dedicated AP Centre of Competence service in Riga, Latvia whereby suppliers can contact the team for dispute resolution. The dispute can be further escalated to the team leader and finance manager and resolved with 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 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