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CRODA EUROPE LIMITED

Company number: 00167236

Reporting period:
1 January 2022 to 30 June 2022

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This information is as reported by the business, and responses are in their own words.

This report was filed on 26 July 2022

and approved by James William Firth

Payment statistics

Average time taken to pay invoices: 48 days

Invoices paid:

• within 30 days: 28%
• in 31 to 60 days: 61%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 18 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

110 days

Standard payment terms

Our standard payment terms are payment on 6th or 20th of a given month following invoice e.g. 2M06 whereby an invoice received on 15 January would be paid on 6 March.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

110 days

We apply one of our standard terms depending on the nature, size and relationship with the business in question. We offer reduced terms where we deal with small scale, local or sole trader businesses.

Any other information about payment terms

N/A

Dispute resolution process

We deal with very few disputes in relation to payment terms and identify a resolution within days. We document agreement to payment terms with vendors before beginning any new business but aim to find a suitable resolution depending on the nature and scale of the business.

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