Company number: 00494648
and approved by Andrew Bentley
Average time taken to pay invoices: 52 days
Invoices paid:
Invoices due but not paid within agreed terms: 91%
1 days
60 days
Our most frequently used payment term is 30 Days Net however we are moving to either 30 days EOM or 60 days EOM terms following contract negotiations with suppliers
We are moving the business to 60 Day EOM terms however this is only after contract negotiation with our suppliers. Where contracts are not yet due for renewal our current terms apply.
Contract negotiations, written communication with suppliers agreeing revised terms.
60 days
No further comment provided
N/A
Usually our buyers contact the suppliers to query incorrect charges or non-receipt of goods. For pricing queries our suppliers will investigate our disputes and raise credit notes where applicable, however usually the invoice is held until the credit has been received before releasing the payment. If the dispute is rejected the buyer will adjust the purchase order value to the higher amount or advise us of their approval, at which point the invoice is released for payment on our next available payment run. For non-receipt of goods, we usually request a Proof of Delivery, which when received and investigated usually leads to the order being receipted and the invoice released for payment.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No