UNITED CLOSURES AND PLASTICS LIMITED
Company number: SC119026
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
30 October 2018
Approved by:
Matthew Harrison, Director
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 32%
- in 61 days or more: 37%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 75%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
95 days
Standard payment terms
Standard agreed payment terms between 60 days and 95 days dependent on supplier.
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
95 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Other than where there is a material dispute, which is escalated to head office, disputes are handled on an individual site basis; it is the site’s responsibility to engage with a supplier to agree a form of resolution. Disputes, and resolutions to these, including those that have been escalated to head office, should be communicated to the relevant purchase ledger team for them to be recorded in our systems for processing.
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