GOV.UK
VELUX COMPANY LTD.
Company number: SC070286
Reporting period:
1 July 2021
to 31 December 2021
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 17 January 2022
and approved by Scott Leeder
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 6%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 62 %
Payment terms
Shortest standard payment period
3 days
Longest standard payment period
60 days
Standard payment terms
20 days following invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
If invoice received is inaccurate or incorrect, the purchaser will place on hold, held invoices will not be paid until issue is resolved with vendor by way of credit note and new invoice.
Once the correct invoice is received it will be paid on next available payment date (daily payment runs).
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.
Yes
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