CHEMRING COUNTERMEASURES LIMITED
Company number: 00218229
1 November 2021
to 30 April 2022
This report was filed on 26 October 2022
and approved by Michael Randell
Average time taken to pay invoices: 31 days
- within 30 days: 52%
- in 31 to 60 days: 47%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 21 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
30 days from end of month
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
60 days EOM - payment date dependent on timing of invoice.
Any other information about payment terms
Dispute resolution process
Invoices are recorded on purchase ledger but held for payment approval if in dispute. A resolution process is then applied until resolved.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?