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CEND INTERNATIONAL LIMITED

Company number: 08651475

Reporting period:
1 July 2022 to 31 December 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 13 March 2023

and approved by John Andrew Gallemore

Payment statistics

Average time taken to pay invoices: 66 days

Invoices paid:

• within 30 days: 5%
• in 31 to 60 days: 38%
• in 61 days or more: 56%

Invoices due but not paid within agreed terms: 38 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

Cend International’s standard payment terms are:

Stock: Typically 60 days from the end of the month in which a tax invoice is received.

Non-stock: Typically 30 days from the end of the month in which a tax invoice is received.

The Company trades with a limited number of suppliers on proforma payment terms due to legacy trading arrangements or those relationships established due to acquisition.

The Company works flexibly with suppliers to ensure agreed terms are acceptable for both parties.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Supplier queries and disputes are to be sent to the Accounts Payable department at the following email addresses: Stock - APSupplierServices@thehutgroup.com, Non-stock - OHinvoices@thehutgroup.com. Stock suppliers have allocated representatives who will liaise internally with the relevant buying team and/or warehouse in order to resolve the query. Non-stock suppliers’ queries and disputes are dealt with by a dedicated ‘Overheads’ team. Emails are usually responded to within two working days. If disputes cannot be resolved by the Accounts Payable department they are escalated within the business as appropriate.

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.

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.

Yes

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