Company number: 02189907
and approved by Nicholas David Coton
Average time taken to pay invoices: 56 days
Invoices paid:
Invoices due but not paid within agreed terms: 8%
0 days
90 days
The company has differing standard payment periods depending on the classification of the product or service acquired. Vendors for stock items are generally 60 or 90 days, end of month. The period for fixed asset suppliers are generally 60 days, end of month. Historically other vendors were generally paid 30 days and in recent years moving to 60 days end of month however the business is moving towards new standard terms of 90 days.
Our standard payment terms are now moving to 90 days.
Existing suppliers are currently being contacted to request adoption of new standard terms. Requests to exemption from our standard terms are reviewed on a case by case basis.
90 days
N/a
Quoted number of days for standard period/terms are actually "End of month". For example an invoice dated 1st February, with terms 90 days end of month, would be payable by 31 May.
Responsibility for resolution of disputes and complaints is jointly held by our accounts payable and procurement teams as appropriate. The aim is to work closely with suppliers to negotiate appropriate resolution in advance of the payment due dates, where possible.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No