TENNANTS FINE CHEMICALS LIMITED
Company number: 00646784
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
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%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
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
Were suppliers notified or consulted about these changes before they were made?
N/A
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
No further comment provided
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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