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DERMAL LABORATORIES LIMITED

Company number: 01594795

Reporting period:
1 June 2022 to 30 November 2022

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This information is as reported by the business, and responses are in their own words.

This report was filed on 22 December 2022

and approved by M J Yarrow

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

• within 30 days: 79%
• in 31 to 60 days: 19%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 59 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

As a business, we do not wish to impose payment periods on any of our suppliers. As with our reference
to payment terms above, we settle trade accounts based on the payment periods, terms and conditions
expressed by our suppliers or as close to them as we are able. The most commonly used terms used
during the reporting period (30) were 30 Days from Invoice Date

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

The maximum period term applied during the reporting period was 60 days from End of Invoicing Month
(60EOM). These terms were agreed with one supplier and applied to 0% of the invoices paid during the
reporting period.

Any other information about payment terms

N/A

Dispute resolution process

If a supplier’s invoice is disputed by the company, the company’s buyer will contact the supplier in order to
clarify any discrepancy and resolve the issue.

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

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