DRUCK LIMITED

Company number: 01590333

Reporting period:
1 July 2017 to 31 December 2017

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This report was filed on 29 January 2018

and approved by Guido Poggiali

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 37%
• in 31 to 60 days: 20%
• in 61 days or more: 43%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

90 days

Longest standard payment period

120 days

Standard payment terms

90 days is for UK domestic suppliers Presented at engagement, published to external web site and there is a negotiated agreement

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

August 2017 90 day standard was introduced for the UK domestic suppliers. Previously all suppliers were 120 days

Were suppliers notified or consulted about these changes before they were made?

New standard applied to new engagements and notified at point of engagement and standard T&C published to external web site

Maximum contractual payment period agreed

120 days

Applies to large suppliers with international coverage.

Any other information about payment terms

N/A

Dispute resolution process

Disputes are referred to sourcing by staff and Accounts Payable. Sourcing engage with the supplier to agree payment terms

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