CROWN PACKAGING MANUFACTURING UK LIMITED
Company number: 10352429
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 31 July 2023
and approved by Paul Browett
Payment statistics
Average time taken to pay invoices: 69 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 44%
- in 61 days or more: 43%
Invoices due but not paid within agreed terms: 59 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
120 days
Standard payment terms
The standard payment terms are between 60 days and 120 days depending on the market segment.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
165 days
Any other information about payment terms
The majority of payments are made via a weekly BACS. Where agreements have been made with suppliers to pay on a specific day, this is honoured. The longest payment terms are negotiated through Supply Chain Finance.
Dispute resolution process
Disputes relating to payment of invoices will be resolved through communication between the Shared Service Centre, the local Sourcing team or factory and the supplier. Once disputes have been resolved, every effort is made to pay the invoice at the earliest opportunity if the payment due date has been passed.
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