TENNANTS FINE CHEMICALS LIMITED
Company number: 00646784
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by W Gittins
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 42%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
115 days
Standard payment terms
Terms are negotiated by supplier. Occasionally early settlement discounts may be offered.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
115 days
These terms are actually 90 days 'end of month' & therefore average at 115 days as stated above.
Any other information about payment terms
N/A
Dispute resolution process
Invoices where they do not match either a purchase order or do not have a purchase order will be queried internally with the responsible person. This query will then be passed to the supplier for resolution.
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