STORENGY UK LIMITED
Company number: 06311795
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
31 July 2023
Approved by:
Anne Laure Chassanite
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 9%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are 30 days end of month from the date of Seller’s invoice receipt unless the Quotation or Seller’s Sales Order.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Within Storengy UK Ltd, a number of the contract templates that are utilised include provision for dispute resolution.There is also a procedure in place defining a standardised approach to be undertaken for the management of contractual disputes within Storengy UK Ltd. The functional responsibility for the development, review and maintenance of this procedure rests with the Head of Procurement. Where it has not been possible to resolve any contractual matters by form of negotiation, the following steps shall be taken
1. Approved Dispute Resolution Form
2.Implement Dispute Resolution Strategy
Where an agreement cannot be reached between the parties, the dispute shall be escalated within the Storengy UK Management team and Storengy Legal department.
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