TREMCO CPG UK LIMITED
Company number: 00251311
Reporting period:
1 December 2022 to 31 May 2023
Report filed on:
27 June 2023
Approved by:
Daniel Johnson
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 15%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
End of the month+60days
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
90 days
No further comment provided
Any other information about payment terms
We have used the invoice posting date in SAP as an approximation for the invoice receipt date since we don't have a separate tracking or data available specifically for the invoice receipt date.
Dispute resolution process
If an invoice doesn't agree to the purchase order, the purchasing department will investigate and also speak directly to the supplier. For non-stock invoices, the finance team will deal directly with the supplier, with help from the relevant department which purchased the goods/services.
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