GERMAN SWEDISH & FRENCH CAR PARTS LIMITED
Company number: 03896059
Reporting period:
1 May 2017 to 31 October 2017
Report filed on:
28 November 2017
Approved by:
Joseph De Silva
Payment statistics
Average time taken to pay invoices: 66 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 30%
- in 61 days or more: 56%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 64%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
120 days
Standard payment terms
Business standard payment terms are 30 days end of month from the date of invoice
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
120 days
The maximum contractual payment period is 120 days. This maximum payment period has been negotiated with less than 5 suppliers who generally tend to be supply large volumes.
Any other information about payment terms
No further comment provided
Dispute resolution process
The business process for resolving payment disputes involves contacting the purchase ledger supervisor Mrs Andrea Yates 0121 749 8825. In cases of escalation the supplier can contact the Director of Finance Services Joseph De Silva joseph.desilva@gsfcarparts.com, if the matter cannot be resolved the issue can be escalated to the Chief finance Officer Neil Croxson neil.croxon@thepartssalliance.com.
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.
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