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TVS SUPPLY CHAIN SOLUTIONS LIMITED

Company number: 02748952

Reporting period:
1 April 2023 to 30 September 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 24 October 2023

and approved by Paul Roberts

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 66%
• in 31 to 60 days: 23%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 2 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

120 days

Standard payment terms

Various between 30 days and Net monthly +120

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

No

Maximum contractual payment period agreed

120 days

Any other information about payment terms

N/A

Dispute resolution process

We operate an automatic debit note system whereby an invoice is paid in full less the debit note amount for the discrepancy. If the discrepancy relates to price, the appropriate buyer is informed of the discrepancy for them to resolve with the vendor. If the discrepancy relates to quantity, the appropriate member of the distribution centre team are informed for them to resolve with the vendor. Any queries from suppliers are allocated to a member of the transactional team to resolve.

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.

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