DTR VMS LIMITED
Company number: 06703842
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 18 January 2022
and approved by SH Kim
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 62%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 86 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
0 days - same day payment
20 days - net end of month
30 days - net end of month
45 days - net end of month
60 days - net end of month
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
This relates to Group Companies located in Korea and China - it is to compensate for the long shipping times
Any other information about payment terms
N/A
Dispute resolution process
Value discrepancies - query is sent to Purchasing Department for them to resolve with supplier. Faulty Goods/Quantity Discrepancies - DTR contacts the supplier 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