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AXELOS LIMITED

Company number: 08489114

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 29 July 2022

and 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%

Invoices due but not paid within agreed terms: 69 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days

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

Yes – 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?

Yes – 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

Any other information about payment terms

N/A

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 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