GOV.UK
PROTO LABS, LIMITED
Company number: 05366160
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 26 January 2022
and approved by David Ferriday
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 59%
- in 61 days or more: 30%
Invoices due but not paid within agreed terms: 56 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
STANDARD TERMS ARE 30 DAYS END OF MONTH, 30 DAYS END OF MONTH 56%
60 DAYS END OF MONTH 19%
NET 30 DAYS 16%
OTHER 8%
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
THIS IS 30 DAYS END OF MONTH, SO LONGER DEPENDANT ON INVOICE DATE. EG, INVOICE DATE 07/10/2021 WILL NOT BE DUE UNTIL 30 DAYS, TO END OF MONTH = 30/11/2021
Any other information about payment terms
MAJORITY OF TERMS ARE END OF MONTH RATHER THAN NET DAYS OF INVOICE DATE
Dispute resolution process
INVOICES WHICH DO NOT MATCH THE PURCHASE ORDER RAISED ARE LOGGED ON A QUERY REGISTER BY THE PURCHASE LEDGER CLERK.
DEPENDANT ON QUERY, THIS IS INVESTIGATED INTERNALLY FIRST TO CHECK PRICE DIFFERENCES AND QUANTITIES PURCHASED OR RECIEVED.
IF WE ARE UNABLE TO RESOLVE INTERNALLY, WE PUSH THE INVOICE BACK TO THE SUPPLIER DETAILING THE DISPUTE FOR PROCESSING
THIS COMMUNICATION IS LOGGED AND RECORDED IN THE QUERY REGISTER.
THE QUERY REGISTER IS REVIEWED WEEKLY AND CHASED UP WHERE NECCESSARY
MAJORITY OF DISPUTES ARE CLEARED UP BEFORE THE MONTH END.
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