PERSPEX DISTRIBUTION LIMITED
Company number: 04625370
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
18 January 2023
Approved by:
Craig Dodson
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 30%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 28%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
The standard terms of payment are different for different spend categories. In all categories, terms of payment can, by exception, be varied from standard payment terms by agreement between the seller and buyer.
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
No further comment provided
Any other information about payment terms
Terms vary across our supplier base. We make payment runs weekly on a Friday. If the month end date falls within 2 working days of the Friday, that payment would be skipped in favour of payment on the month end date. Invoices falling due between payment runs are paid on the next run. Payment of some of these invoices may therefore end up technically classed as late even though our suppliers understand our payment practice. Other items reported as late represent a mixture of disputed items, supplier invoice errors and suppliers sending invoices late.
Dispute resolution process
If a supplier raises a query in respect of non-payment of an invoice it would initially be handled by accounts payable. If necessary, the accounts payable team will direct the query to the most relevant business area within the company (for example purchasing) to resolve this promptly.
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