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ARTEX LIMITED

Company number: 04140239

Reporting period:
1 July 2021 to 31 December 2021

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This information is as reported by the business, and responses are in their own words.

This report was filed on 28 January 2022

and approved by Nicholas Cammack

Payment statistics

Average time taken to pay invoices: 50 days

Invoices paid:

• within 30 days: 6%
• in 31 to 60 days: 76%
• in 61 days or more: 18%

Invoices due but not paid within agreed terms: 3 %

Payment terms

Shortest standard payment period

65 days

Longest standard payment period

95 days

Standard payment terms

Unless otherwise agreed between the parties in writing payment of undisputed accounts will be made via BACS on the fifth day of the month, two months following the end of the month in which the invoice is received by the Company.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

95 days

31st day of 3rd month after the invoice date.

Any other information about payment terms

N/A

Dispute resolution process

The Company has a dedicated Finance Shared Service Centre (SSC), contactable by phone or e-mail, as noted on the Purchase Order. Vendors with invoice queries are required to contact them regarding non-payment of
invoices. The SSC will endeavour to resolve the query on the telephone and will contact the originator of the
purchase 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