UNIPART POWERTRAIN APPLICATIONS LIMITED
Company number: 03496115
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Nicola Squires
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 47%
- in 61 days or more: 39%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms for suppliers are 60 days end of month. However, a large number of suppliers are also on 30 days end of month, a few suppliers immediate payment and a few large suppliers 90 days end of month.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
We have an accepted custom with a significant number of suppliers that we can make payment up to 4 working days later than the invoice payment date. These are included in the '% Invoices not paid within agreed terms' statistic as the guidance specifically states to calculate the statistic based on the details in the invoice or other written documents.
Dispute resolution process
Supplier queries are raised initially with accounts payable. They are then escalated to the relevant department for resolution (i.e. pricing issues are dealt with by the purchasing department / delivery discrepancies are dealt with by logistics)
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 Fair 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