OFS (DS) HOLDINGS LIMITED
Company number: 06436722
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
31 October 2018
Approved by:
T Bettley
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 30%
- in 61 days or more: 41%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
There are no standard payment terms. Common terms for UK suppliers are 30, 60 and 90 days with 30 being the most frequent. The most frequent terms for imports is 30 days before estimated delivery date.
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
90 days
No further comment provided
Any other information about payment terms
The trading company in the group entered into CVA agreement on 9th July 2018. From that point, Invoices not paid within terms has dropped to 26% from 57% beforehand as the group has benefited from a cash injection from its owners.
Dispute resolution process
In the first instance disputes are dealt with by the merchandising department. If the matter cannot be resolved it will be escalated to senior management.
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