GOV.UK
WAVIN LIMITED
Company number: 00405836
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 12 July 2022
and approved by N RJ Douglas
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 25%
- in 31 to 60 days: 48%
- in 61 days or more: 27%
Invoices due but not paid within agreed terms: 13 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
120 days
Standard payment terms
End of month following document month
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
Any other information about payment terms
The processing and payment of invoices is outsourced to a parent company shared service centre based in Poznan, Poland. There are five payment runs per month around the 1st, 8th, 15th, 22nd and 28th.
Dispute resolution process
There are two forms of agreement with vendors. Either there is a signed acceptance of the Wavin standard terms and conditions or there is a formal contract or supply agreement signed by both parties. The payment terms included in either form of agreement are then used to update the vendor master data records. If the vendor challenges the terms, the Buyer or authorised representative of Wavin will be tasked to reach agreement with the vendor and will then arrange for master data changes to be made if required.
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