STA TRAVEL LIMITED
Company number: 01263330
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
31 July 2018
Approved by:
Nino Ostertag
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 26%
- in 61 days or more: 19%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Company does not use standard payment terms; for the contracts covering overheads the most frequently used payment terms are 30 days while for the contracts with suppliers offering services which are resold to the customers, the usual payment term is 14 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
The average time needed to pay the invoices (40 days) is higher than the most frequently used payment terms (30 days) because of the invoices not being received by the Shared Services team in due time. The company encourages the suppliers to send electronic invoices via email (the email address is AccountsPayable.UK@statravel.com) to shorten the time between the invoice date and the receiving date.
Any other information about payment terms
No further comment provided
Dispute resolution process
The main point of contact for disputes regarding the delays in paying invoices is the Shared Services department which is located in Targu Mures, Romania; for disputes regarding the goods and services ordered and/or received, the responsible persons are the ones who actually contact the suppliers when raising purchase orders.
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 Fair 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