VAUXHALL FINANCE PLC
Company number: 00275607
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
29 January 2021
Approved by:
Martin Page
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 18%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are set and monitored by our Procurement Department who negotiate the contracts with 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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices are processed through our central Accounts Payable Department using a Purchase Order process and payment is approved by the requisitioner of the Purchase Order. If payment is in dispute, the reqisitioner contacts the Accounts Payable Department who informs the supplier through email. Most disputes are usually resolved within days, but some may take longer, depending on the nature of the service. All suppliers are communicated with throughout the process and work with the Accounts Payable team for a quick resolution.
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