GOV.UK
CMP PRODUCTS LIMITED
Company number: 06143400
Reporting period:
1 November 2021
to 30 April 2022
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 19 May 2022
and approved by LAURA JOICEY
Payment statistics
Average time taken to pay invoices: 69 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 27%
- in 61 days or more: 64%
Invoices due but not paid within agreed terms: 17 %
Payment terms
Shortest standard payment period
31 days
Longest standard payment period
61 days
Standard payment terms
60 days end of month following date of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
161 days
Where non standard payment terms of 130 days following end of month of date of invoice are agreed with suppliers then the maximum contractual period could be up to 161 days.
Any other information about payment terms
N/A
Dispute resolution process
Accounts payable use a management system to assign queries to relevant personnel. Dispute resolution is then conducted in house by assigned personnel. Suppliers maybe contacted where appropriate.
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