RECONOMY (UK) LIMITED
Company number: 02951661
Reporting period:
1 July 2021 to
31 December 2021
This report was filed on 29 March 2022
and approved by John Sullivan
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 61%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 77%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Our business standard payment terms for suppliers dealing with Reconomy UK companies are 60 days end of month from the receipt of the invoice (i.e. suppliers are paid at the end of the month following a 60 day period from the date of receipt by Reconomy of a valid invoice).
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
Please see more information about Reconomy's payment terms in our Terms and Conditions which can be found through our website www.reconomy.com/supply
Any other information about payment terms
We work with suppliers to ensure that disputes are resolved in a timely manner. If a supplier has a dispute they should call our treasury team on 01952 292000 or email accounts payable on treasury@reconomy.com
Dispute resolution process
We work with suppliers to ensure that disputes are resolved in a timely manner. If a supplier has a dispute they should call our treasury team on 01952 292000 or email accounts payable on treasury@reconomy.com
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, 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.
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