Company number: 00900322
and approved by Ian Baxter
Average time taken to pay invoices: 32 days
Invoices paid:
Invoices due but not paid within agreed terms: 1%
30 days
60 days
Alfred H Knight International Ltd has standard payment terms agreed with the supplier on initial set up of 30 days from the end of month of invoice. Due to this, the standard payment terms can be as short as 30 days or as long as 60 days. The main BACS payment run is completed mid-month and all invoices from the previous month are paid, therefore payment is typically (85% in this payment period) in the 15-45 day range.
Answer not provided
N/A
60 days
Alfred H Knight International Ltd typically doesn't deviate from the standard payment terms, however, under exceptional circumstances there are some suppliers who have negotiated shorter payment terms e.g. 7 or 14 days.
N/A
The employee within Alfred H Knight International Ltd responsible for raising the purchase order will also be responsible for authorising the invoice. If there is a dispute then this same person will be responsible for liaising with the supplier to settle the dispute and communicate the resolution to the accounts payable department.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No