BETA This is a new service – your feedback will help us to improve it.


Company number: 03124721

Reporting period:
1 April 2018 to 30 September 2018

Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 8 November 2018

and approved by Bryn Marsh

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

Invoices due but not paid within agreed terms: 81 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

Standard payment terms are 30 days end of month, all suppliers are paid on these terms unless it is otherwise agreed.
Small suppliers or suppliers who require deposits or pro forma invoicing are paid on 0 days when requested.

Were there any changes to the standard payment terms in the reporting period?


Maximum contractual payment period agreed

60 days

60 days end of month

Any other information about payment terms

Standard payment terms of 30 days end of month are applied with mutual agreement by all suppliers who do not require immediate payment.
Whilst 81% of payments are made later than the terms set out on the suppliers invoice, there is a mutual understanding and clear communication that terms of 30 days end of month will be applied to transactions. CNC Speedwell pay consistently to these terms and work with suppliers to ensure payments are made in a reasonable manner - as demonstrated by the relatively low average payment days and small number of transactions settled in over 60 days.

Dispute resolution process

Complaints or concerns are dealt with on a reasonable basis by the Financial Controller and the Managing Director, with the relevant parties concerned.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?