UNITED CLOSURES AND PLASTICS LIMITED

Company number: SC119026

Reporting period:
1 April 2018 to 30 September 2018

---

This report was filed on 30 October 2018

and 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%

Invoices due but not paid within agreed terms: 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?

Answer not provided

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

N/A

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 Prompt 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