DRUCK LIMITED
Company number: 01590333
Reporting period:
1 July 2017 to
31 December 2017
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