GOV.UK
DONALDSON FILTER COMPONENTS LIMITED
Company number: 01222246
Reporting period:
1 February 2022
to 31 July 2022
This report was filed on 24 August 2022
and approved by Christine Cook
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 31%
- in 61 days or more: 36%
Invoices due but not paid within agreed terms: 46 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
90 days
Standard payment terms
The most frequent terms for suppliers is 30 days net. The second most frequent is 60 days net.
Were there any changes to the standard payment terms in the reporting period?
Yes –
Changes have been made to some suppliers payment terms. The changes are the below:
From 30 days net to 60 days net
From 1% discount in 10 days or full payment at 30 days net to 1.5% discount in 10 days or full payment at 30 days net
From 30 days net to 45 days net
Were suppliers notified or consulted about these changes before they were made?
Yes – Negotiations with suppliers on the changes in payment terms.
Maximum contractual payment period agreed
90 days
There is a new supplier who is on the maximum payment terms of 90 days net.
Any other information about payment terms
N/A
Dispute resolution process
Dispute relating to payment would initially be directed to the accounts payable team. If the AP team can not resolve this it would be escalated to the Purchasing manager or the Finance manager to ensure proper resolution.
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