DONALDSON FILTER COMPONENTS LIMITED
Company number: 01222246
Reporting period:
1 August 2023 to
31 January 2024
This report was filed on 13 February 2024
and approved by Christine Cook
Payment statistics
Average time taken to pay invoices: 1 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 37%
- in 61 days or more: 38%
Invoices due but not paid within agreed terms: 63%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
75 days
Standard payment terms
Most of our suppliers are on NET 30 payment terms. The second most popular is NET 60
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
75 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Disputes relating to payment would initially be directed to the Accounts Payable team. If the AP team cannot resolve the issue this would be escalated to the Purchasing Manager or the Finance Manager to ensure proper resolution. An AP escalation process has been created where any overdue calls/emails are recorded and monitored to ensure prompt resolution.
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