ARTEX LIMITED
Company number: 04140239
Reporting period:
1 January 2021
to 30 June 2021
This report was filed on 27 July 2021
and approved by Nicholas Cammack
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 4%
- in 31 to 60 days: 73%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 3 %
Payment terms
Shortest standard payment period
65 days
Longest standard payment period
95 days
Standard payment terms
Unless otherwise agreed between the parties in writing payment of undisputed accounts will be made via BACS
on the fifth day of the month, two months following the end of the month in which the invoice is received by
the Company.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
95 days
31st day of 3rd month after the invoice date
Any other information about payment terms
N/A
Dispute resolution process
The Company has a dedicated Finance Shared Service Centre (SSC), contactable by phone or e-mail, as noted on the Purchase Order. Vendors with invoice queries are required to contact them regarding non-payment of
invoices. The SSC will endeavour to resolve the query on the telephone and will contact the originator of the
purchase to resolve the issue.
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