GOV.UK
CROWN PAINTS LIMITED
Company number: 06624576
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 31 July 2018
and approved by Philip McDonald
Payment statistics
Average time taken to pay invoices: 76 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 21%
- in 61 days or more: 68%
Invoices due but not paid within agreed terms: 83 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
Crown Paints Limited, as standard, pays all its suppliers to 90 days end of month terms.
Variations to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.
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
Crown Paints Limited payment profile is to pays all its suppliers no later than the 5th day of the month following the month in which the relevant undisputed invoice is due for payment by Crown Paints Limited i.e. between 91 and 95 days from receipt.
Dispute resolution process
If at any time any question, dispute or difference arises between Crown Paints and its supplier , typically under contract the parties are obliged to escalate the dispute to senior representatives of the parties who shall use their reasonable endeavours to resolve the dispute in good faith within 30 days of the date on which such dispute was referred to them. For Crown Paints, the escalation point would be the Purchasing Manager.
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.
Yes
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