EUI LIMITED
Company number: 02686904
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
28 July 2022
Approved by:
Geraint Jones
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 44%
- in 61 days or more: 20%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 73%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
30 Days
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Admiral has a dedicated team to provide support to suppliers and resolve queries before they become disputes.
If there is a dispute, the business will contact the relevant vendors and follow up with an email to resolve. We aim to resolve any query raised by a vendor as soon as possible but within 2 working days.
In the event that a dispute cannot be initially resolved, Admiral would comply with any relevant contract provisions on dispute resolution.
The business conducts periodic reviews on overdue invoices and the performance of the Purchase Ledger team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid in a timely fashion.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code
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