GSF CAR PARTS LIMITED
Company number: 01779084
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
2 February 2022
Approved by:
Helen Semmens
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 18%
- in 61 days or more: 44%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
120 days
Standard payment terms
7 Days date of invoice 15 Days date of invoice 30 Days date of invoice 30 Days Month end 45 Days Month end 60 Days Month end 90 Days Month end 120 Days Month end
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
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Escalation to Accounts Payable supervisor, if not resolved escalate to Deputy Head of AP, if not resolved escalate to Head of AP, if not resolved escalate to Group Financial Controller, if not resolved escalate to CFO
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.
Yes
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.
Yes
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