GOV.UK
PORVAIR FILTRATION GROUP LIMITED
Company number: 00888596
Reporting period:
1 December 2020
to 31 May 2021
This report was filed on 10 June 2021
and approved by David Mellor
Payment statistics
Average time taken to pay invoices: 57 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 41%
- in 61 days or more: 37%
Invoices due but not paid within agreed terms: 41 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
The Company negotiates and agrees payment terms with its suppliers as part of its procurement process. As a result terms vary by supplier. The most common payment terms in place is 60 days end of month, although payment terms range from payment on receipt to 60 days end of month
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Maximum contractual payment period is 60 days end of month
Any other information about payment terms
37% of late payments are currently paid within 7 days of due date
Dispute resolution process
Supplier invoices and payments are managed by the Accounts Payable teams at our UK Plants. Disputed invoices will be notified to the supplier by the buyer who initiated the purchase transaction to ensure they are investigated in a timely manner and resolved. Invoiced items that are subject to dispute will not be paid until resolution of the dispute, whereupon payment shall be made in accordance with the policy
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