Company number: 01451007
and approved by Chris Lodge
Average time taken to pay invoices: 51 days
Invoices paid:
Invoices due but not paid within agreed terms: 42%
0 days
60 days
Our standard payment terms are 30 Days EOM +1. On average it takes two days from invoice receipt for the invoice to be booked on our ledger.
Our standard terms for stock accounts have reduced to 30 days EOM +1 from 60 days EOM for any new suppliers that we open a trading account with.
N/A
60 days
No further comment provided
Whilst 42% of invoices appear not to be paid within the agreed terms. One of our main month end payment run's is generated on the 1st working day of the following month for invoices that are due at the end of the month, this has been the customary practice for a number of years and is widely accepted by our supplier base.
We aim to resolve all disputes promptly and will normally do so by raising an abeyance note (request for credit note) to the supplier detailing the query, followed by contacting suppliers directly. Any disputes regarding payments are also directed to our AP Helpdesk team.
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.
Yes
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