APOGEE CORPORATION LIMITED
Company number: 02853595
Reporting period:
1 May 2022 to 31 October 2022
Report filed on:
18 November 2022
Approved by:
Samantha Jackson
Payment statistics
Average time taken to pay invoices: 57 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 76%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
It is the Company's aim to pay suppliers within 30 days, however the Company agrees appropriate terms of payment with each supplier which may deviate from these standard terms. We operate a weekly payment run.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Company aims to resolve disputes in a timely and fair manner initially by our Accounts Payable team. If the dispute cannot be resolved by our Accounts Payable team it will be escalated to our Finance Director.
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 Fair 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.
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