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TCR UK LIMITED

Company number: 04299549

Reporting period:
1 January 2023 to 30 June 2023

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

This report was filed on 31 July 2023

and approved by Shen Shen Lee

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 55%
• in 31 to 60 days: 31%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 29 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

TCR standard payment terms is 45days,however,this can vary depending on separate negotiations with our suppliers

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

No

Maximum contractual payment period agreed

101 days

Any other information about payment terms

N/A

Dispute resolution process

Dispute Resolution
TCR General Clause;
14.8.Governing Law. The contract, and any dispute or claim arising out of or in connection with it or its subject matter or formation(including non-contractual disputes or claims), shall be governed by, and construed in accordance with the of Belgium.
14.9. Jurisdiction. Each party irrevocably agrees that the commercial court of Brussels, Belgium shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including non -contractual disputes or claims)

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.

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