KNAUF INSULATION LIMITED
Company number: 01926842
Reporting period:
1 January 2018 to
30 June 2018
This report was filed on 13 August 2018
and approved by Neil Hargeaves
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 58%
- in 61 days or more: 19%
Invoices due but not paid within agreed terms: 69%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days end of month following invoice date, 30 days from date of invoice and 45 days from date of invoice are the most commonly used terms.
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
All information provided is based upon invoice dates and payment dates within our ledgers and has not been adjusted for any delays as a consequence of non-receipt/late receipt of invoices, vendor disputes or invoice queries.
Dispute resolution process
Disputes are co-ordiated through the Accounts Payable department, using SAP workflow management software. Invoices with no PO will be rejected back to the vendor. All disputes are sent to the appropriate internal department (and/or Purchasing), depending upon the nature of the query/dispute, Once the dispute has been resovled, AP will be notified and the invoice will be processed (with any corresponding credit notes if applicable) and then paid on the next 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