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PREMIER FARNELL UK LIMITED

Company number: 00860093

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 28 July 2022

and approved by Gavin Hodgson-Silke

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 59%
• in 31 to 60 days: 33%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 56 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

The company does not operate standard payment terms. The majority of suppliers are on 30 days from date of invoice or 30 days from end of month. However, supplier payment terms may range from 0 days to 60 days from end of month.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Questions relating to payment of supplier invoices should in the first instance by raised with the Accounts Payable department. In the case of queries around supply of inventory, the query may be referred on to the Asset Operations department for further investigation. The company aims to resolve all disputes as quickly as possible dependent on the nature of the query.

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.

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