AUTO TRADER LIMITED
Company number: 03909628
Reporting period:
1 April 2022 to 30 September 2022
Report filed on:
26 October 2022
Approved by:
Jamie Warner
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 83%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Auto Trader agrees appropriate terms of payment with each supplier, with 30 days the most commonly used term of payment for the reporting period. Payment is made on the payment run prior to the invoice due date.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
Prior to Mar-22, Auto Trader's standard payment practices were to pay supplier invoices on the first payment run immediately following the due date per the supplier terms, as set out on Auto Trader purchase orders, assuming correct invoice presentation. Auto Trader now pays supplier invoices on the payment run immediately before the due date per the supplier terms. There is no change to the payment of self-billing suppliers. The payment run is twice monthly.
Dispute resolution process
Auto Trader endeavours to resolve all disputes in a fair and timely manner. Payment date queries will be resolved directly by our Core Services Team who can be contacted at transactionalprocessing@autotrader.co.uk (tel. 0330 303 9012). Contractual disputes are typically resolved via discussion and agreement between the supplier and the Auto Trader representative dealing with the particular purchase. Once the issue is resolved, the invoice will be available for payment on the next standard payment run.
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, 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.
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