EURO CAR PARTS LIMITED
Company number: 02680212
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
17 January 2024
Approved by:
Annick Jourdenais
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 30%
- in 61 days or more: 28%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
180 days
Standard payment terms
60 days EOM most used terms & part of our Ts/Cs part of Vendor on boarding
Were there any changes to the standard payment terms in the reporting period?
We do have vendors offer us 180 days outside supplier chain finance option
Were suppliers notified or consulted about these changes before they were made?
It was all agreed with vendor before amending
Maximum contractual payment period agreed
270 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the first instance supplier queries should be escalated to the Accounts Payable Team. Following this, resolution should be pursued through working with the Purchasing Team /Senior Finance & supplier representatives.
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.
Yes
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.
Yes
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