PRATER LIMITED

Company number: 02107097

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 9 February 2021

and approved by Andreas Fegbeutel

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

• within 30 days: 47%
• in 31 to 60 days: 43%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 6%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

Prater Limited does not have standard payment terms, they range from 7 days to 60 days after the month-end of receipt of invoices. Payment runs are typically on a weekly basis by BACS.

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

Answer not provided

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

Suppliers are notified in writing, should there be any change to the standard payment terms.

Dispute resolution process

Prater Limited actively resolve disputes as efficiently as possible. There is an escalation process in place to senior management if disputes cannot be resolved in a reasonable time frame.

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, 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