INNOVIA FILMS LIMITED
Company number: 00271998
Reporting period:
1 January 2023 to
30 June 2023
This report was filed on 8 August 2023
and approved by Debbie Hewison
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 57%
- in 61 days or more: 25%
Invoices due but not paid within agreed terms: 59%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Innovia’s standard payment terms are 60 days end of month, in exceptional cases, or where mutually agreed, then the payment terms may be shorter than this
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
150 days
Depending on the date of invoice, then the maximum payment period would be 150 days. The only exception to this would be where there is a query, or dispute, on the invoice. In this exception, both parties would expediently work to resolve the matter
Any other information about payment terms
N/A
Dispute resolution process
This would be dealt with between the relevant member of the Procurement Team and their contact within the supplier.
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.
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