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EUROMONEY TRADING LIMITED

Company number: 05935420

Reporting period:
1 October 2021 to 31 March 2022

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This information is as reported by the business, and responses are in their own words.

This report was filed on 11 May 2022

and approved by Richard Haley

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 56%
• in 31 to 60 days: 23%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 48 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

"Payment terms are based on the supplier terms, for which the majority are 30 days.
If no payment terms are on the supplier invoice, policy to pay invoices within 30 days of the invoice date."

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

N/A

Dispute resolution process

Accounts Payable are initially contacted if there are complaints from suppliers about payment under qualifying contracts. If they are unable to resolve the issue, Accounts Payable will liaise with the internal business unit who requested the supply. If need be, any unresolved disputes will be escalated to senior management in the relevant business division and finance.

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