VALTRIS ADVANCED ORGANICS LIMITED
Company number: 08222822
Reporting period:
1 January 2023 to
30 June 2023
This report was filed on 26 July 2023
and approved by Christoph Cluyse
Payment statistics
Average time taken to pay invoices: 72 days
Invoices paid:
- within 30 days: 25%
- in 31 to 60 days: 44%
- in 61 days or more: 31%
Invoices due but not paid within agreed terms: 65%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
The business uses a large number of suppliers on different payment terms. There is no real standard payments terms and terms are negotiated individually per supplier. The numbers above therefore represent the full range of payment terms offered from different suppliers.
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
90 days
No further comment provided
Any other information about payment terms
Average number of days for making payment for this period is 72 days but for this reporting period this is somewhat skewed by inter company invoices which were not paid to terms to help manage group cash flow. Ignoring this inter company vendor the average would be 43 days which is more in line with previous submissions.
Dispute resolution process
The supplier will contact our procurement department with the dispute, or the procurement department will contact the supplier. The issue will be discussed and a settlement agreed, based on contract terms.
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.
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