GOV.UK
ANIXTER LIMITED
Company number: 00248952
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 13 February 2023
and approved by Babayemi Olatunji ABIODUN-ADELEYE
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 46%
- in 61 days or more: 28%
Invoices due but not paid within agreed terms: 81 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Anixter’s suppliers can be split into (i) suppliers of goods and services for resale or “Material Vendors” and (ii) other suppliers of goods and services that help us run our business or “Expense and Freight Vendors”. Standard payment terms in orders issued to Material Vendors are 90 days from (i) receipt of the goods or services by Anixter; and (ii) receipt of undisputed, complete and correct invoice for such goods and services. There are no standard payment terms for contracts with Expense and Freight Vendors, but the most frequently used payment terms are 30 days from the date of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
76 days
Any other information about payment terms
Anixter uses weekly payment runs to pay all of its suppliers and vendors, which is an industry common practice. The majority of invoices paid after the due date result from the weekly payment cycle, invoices received later than the payment due date and disputed invoices.
Dispute resolution process
All invoicing issues are dealt in the first instance by Anixter’s accounts payable team (AP). AP will address disputes relating to non-compliant invoices and will reach out to the suppliers or internal business contacts if required.
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