SPREADEX LIMITED
Company number: 03720378
Reporting period:
1 June 2023 to 30 November 2023
Report filed on:
29 December 2023
Approved by:
James Hallan
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 17%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
305 days
Standard payment terms
Spreadex do not routinely dictate payment terms to our suppliers, unless we consider those proposed by the supplier to be unreasonable. The typical payment terms are between 14-60 days from the date of the invoice.
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
305 days
Spreadex are subject to business rates - which are payable over a ten month period.
Any other information about payment terms
No further comment provided
Dispute resolution process
Typically any dispute will be dealt with in the first instance by the relevant department management. Timescales for resolution vary on a case by case basis depending on the specific nature of the dispute.
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