SCREWFIX DIRECT LIMITED
Company number: 03006378
Reporting period:
1 August 2020
to 31 January 2021
This report was filed on 24 February 2021
and approved by Max Britten
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 68%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
90 days
Standard payment terms
Goods not for Resale (GNFR) contracts = 30 Days
Goods for Resale (GFR) contracts (Domestic) = 60 Days & (Imports) = 90 Days
Small Businesses = 14 Days and 30 Days
Intercompany Payments = 21 Days after the period end
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
110 days
Any other information about payment terms
N/A
Dispute resolution process
The first point of contact should be with the Accounts Payable Team.
Email: nonstockaccounts@screwfix.com (GNFR Invoices) /
purchaseledger@screwfix.com (GFR Invoices)
The Accounts Payable team will escalate to the Accounts Payable Manager if there are any disputes they are unable to resolve
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.Yes – The Prompt Payment Code
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