LEVITON MANUFACTURING UK LIMITED

Company number: 02340157

Reporting period:
1 January 2022 to 30 June 2022

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This report was filed on 1 July 2022

and approved by Ian Wilkie

Payment statistics

Average time taken to pay invoices: 66 days

Invoices paid:

• within 30 days: 11%
• in 31 to 60 days: 36%
• in 61 days or more: 53%

Invoices due but not paid within agreed terms: 46%

Payment terms

Shortest standard payment periods

75 days

Longest standard payment period

Answer not provided

Standard payment terms

Leviton Manufacturing UK Limited standard payment terms are month end + 60 days. Payment terms are agreed with suppliers as part of negotiating trade credit accounts. Variations to these standard payment terms are by exception only, and are only applied when negotiated and agreed by both parties.

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

120 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Payment disputes with suppliers (if at all) are extremely rare. Should a complaint or concern regarding payment be raised by a supplier, our finance department would respond to such a matter in a timely manner and we would work directly with the supplier to resolve the dispute or concern.

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