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TCR UK LIMITED

Company number: 04299549

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 Shen Shen Lee

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 30%
• in 31 to 60 days: 53%
• in 61 days or more: 16%

Invoices due but not paid within agreed terms: 64 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

Standard terms is 45days, however, this can vary depending on certain negotiations with suppliers.

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

No

Maximum contractual payment period agreed

101 days

Any other information about payment terms

N/A

Dispute resolution process

Dispute Resolution
TCR General Clause:
14.8. Governing law. The Contract, and any dispute
or claim arising out of or in connection with it or its
subject matter or formation (including non-contractual
disputes or claims), shall be governed by, and
construed in accordance with the law of Belgium.
14.9. Jurisdiction. Each party irrevocably agrees that
the commercial court of Brussels, Belgium shall have
exclusive jurisdiction to settle any dispute or claim
arising out of or in connection with this agreement
or its subject matter or formation (including
non-contractual disputes or claims

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.

Yes

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