AUTORAMA UK LTD
Company number: 05137709
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
20 December 2023
Approved by:
Jamie Warner
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 16%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
The company agrees appropriate terms of payment with each supplier, with 30 days the most commonly used term of payment for the reporting period. Payment is made on the payment run prior to the invoice due date as long as the invoice has been approve. During the reporting period, weekly payment runs were undertaken.
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
The company endeavours to resolve all disputes in a fair and timely manner. Payment date queries will be resolved directly by our accounts team who can be contacted at accounts@autorama.co.uk. Contractual disputes are typically resolved via discussion and agreement between the supplier and the company representative dealing with the particular purchase. Once the issue is resolved, the invoice will be available for payment on the next standard payment run.
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