ARROW ENTERPRISE COMPUTING SOLUTIONS LIMITED
Company number: 03952678
Reporting period:
1 July 2021 to
31 December 2021
This report was filed on 13 April 2022
and approved by Anne Holman
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 53%
- in 61 days or more: 24%
Invoices due but not paid within agreed terms: 45%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
The company has standard payment terms of net monthly (payment is due on the last day of the month following the one in which the invoice is dated), but in addition has negotiated payment terms with vendors from time to time of up to 110 days based on a variety of factors and variables associated with any contract negotiation.
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
110 days
Payment runs are performed twice a month, making payment for invoices that are processed and due up to and including the date of the payment run. This is done with the understanding of our vendors. Based on how we are required to report under the statute, however, invoices falling due in-between the dates of the payment runs are reported as having been overdue (when in fact, as noted, this is done with the understanding of our vendors).
Any other information about payment terms
n/a
Dispute resolution process
A group email address is used for all accounts payable queries. The accounts payable member allocated to that specific vendor will deal with any queries received into this email box. Any resolution is specific to and agreed upon with each vendor based on a variety of factors and variables.
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.
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