KNAUF INSULATION LIMITED

Company number: 01926842

Reporting period:
1 January 2023 to 30 June 2023

This information is as reported by the business, and responses are in their own words.

This report was filed on 17 July 2023

and approved by Alexandre Laurent

Payment statistics

Average time taken to pay invoices: 57 days

Invoices paid:

within 30 days: 18%
in 31 to 60 days: 53%
in 61 days or more: 29%

Invoices due but not paid within agreed terms: 67%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

30 days end of month following date of invoice. 30 days from the date of invoice and 45 days from the date of invoice are the most standard terms.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

All information provided is based upon invoice dates and payment dates within our ledgers and has not been adjusted for delays as a consequence of non-receipt of invoices, vendor disputes or invoice queries

Any other information about payment terms

N/A

Dispute resolution process

Disputes are co-ordinated through the accounts payable department using SAP workflow management software. Invoices with no PO are rejected back to the vendor. All disputes are sent to the appropriate internal department and/or purchasing depending on type of query. Once resolved accounts payable are informed and the invoice processed with any credit note if applicable and then paid on the payment run.

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, 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.

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.

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?

Cookies on Payment practices reporting