ARROW XL LIMITED
Company number: 04358875
Reporting period:
3 July 2017
to 30 December 2017
This report was filed on 31 January 2018
and approved by Richard Neal
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 39%
- in 61 days or more: 30%
Invoices due but not paid within agreed terms: 94 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
Standard payment terms for goods and services are 90 days, which is also the maximum terms. However, contractual payment terms do vary between 7 and 90 days, with over 92% of suppliers on terms of 60 days or less, and 60% on 45 days or less. There have been no changes to the standard payment terms or payment practices in this reporting period.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Payment disputes are initially dealt with by the transaction processing manager, but if necessary will be referred to the Financial Controller or Chief Financial Officer of the business for resolution.
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