GOV.UK
IFCO SYSTEMS UK LTD
Company number: 02997052
Reporting period:
1 July 2017
to 31 December 2017
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 30 January 2018
and approved by Chris Taylor
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 6%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 80 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Our standard payment terms are 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
We aim to pay suppliers on time but our payment runs are only once a week and the system is set up to only pay invoices which are due at that time.
Dispute resolution process
Any complaint or concern will be considered by the company's Finance Department in the first instance. Finance Department will aim to resolve any queries or disputes promptly, so payment can be made without delay. Any unresolved disputes will be passed on to the Managing Director.
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