GOV.UK
JCT600 LIMITED
Company number: 00413250
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 11 January 2024
and approved by Nigel Shaw
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 44%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 34 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
A significant amount of our payments are by manufacturer led direct debit and thus are by definition paid at agreed terms
Purchases of used vehicles and part exchange vehicles are generally paid on a cleared funds policy.
We have five brand accounting centres servicing over 50 sites. Suppliers are requested to send all invoices to these centres
rather than the individual sites. But if this is not adhered to there will be inevitably some delay
Our standard payment policy is payment by the end of month after receipt of invoice.
ie an invoice received 15 July will be paid by 31 August.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Suppliers must submit monthly statements which allows us to check we have all invoices. Any invoices not authorised by the managers are placed in hold until the supplier can submit further documents, i.e. order note etc – if the issue is down to quality of work this will be discussed by the manager who has requested the work & the supplier, if required this will escalate up the management chain.
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