Company number: 00305275
and approved by Vineet Verma
Average time taken to pay invoices: 51 days
Invoices paid:
Invoices due but not paid within agreed terms: 60%
30 days
60 days
DENSO Marston's standard payment terms for "direct" supplies are 60 days from invoice, however we respect individual suppliers' terms in many cases, particularly smaller ones. Our policy is always to pay to the agreed terms, unless there is an unresolved query. Whilst payment terms have not changed in the reporting period, we have changed Finance system as at 1st May 2023. This did have an impact on the time taken to pay suppliers during the first few months of implementation. Suppliers were notified of the change of Finance system as at 1st May and the potential delay in payments during initial implementation period.
Answer not provided
N/A
90 days
A number of suppliers have agreed 90 day terms, typically where long distance sea freight is involved.
None
DENSO Marston is committed to making timely payment for all products and services, disputes are rare. If an invoice is paid late it is normally due to some query, such as (for example) the lack of a Purchase Order reference, which the Accounts Payable team will attempt to resolve as soon as possible.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No