AXELOS LIMITED
Company number: 08489114
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
29 July 2022
Approved by:
Georgios Giannetsos
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 59%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 69%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
The standard payments terms were adjusted to 30 days, in order to align with the Group Standard Payment Terms policy of the Group that acquired the company
Were suppliers notified or consulted about these changes before they were made?
Suppliers were notified on the company's standard payment terms throughout the discussions and negotiations for new orders
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers may reach out to their Business Partners, the Procurement Department or the Treasury Department. Disputes are then picked up and resolved by the appropriate Department, depending on their nature.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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