JATO DYNAMICS LIMITED
Company number: 02262299
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
29 July 2024
Approved by:
Robert Williams
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 40%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
60 days
Standard payment terms
The standard payment terms of JATO Dynamics Ltd are 60 days from end of month of receipt of invoice (if later than the date of invoice).
Were there any changes to the standard payment terms in the reporting period?
The standard payment terms of JATO Dynamics Ltd have now changed from 30 days from end of month of receipt of invoice (if later than the date of invoice) to 60 days from end of month of receipt of invoice (if later than the date of invoice).
Were suppliers notified or consulted about these changes before they were made?
For existing suppliers, we are notifying them of the new payment terms on a supplier by supplier basis, mainly when suppliers’ contracts are being renewed. In addition, we have updated our payment policy on our company website and also on our purchase orders issued to suppliers.
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
Invoices should be submitted via email to jatodynamics_invoicecapture@concursolutions.com with a copy to the supplier’s main JATO contact. Invoices must quote JATO’s order number and where relevant the supplier’s VAT number. Failure to comply with these requirements may result in payments being delayed.
Dispute resolution process
If JATO disputes a submitted invoice in whole or in part, JATO will notify the supplier of the dispute within a reasonable time. The supplier should discuss the dispute with the supplier’s main JATO contact, and if the dispute cannot be resolved between the supplier and the supplier’s main JATO contact within 14 days, the supplier may escalate the dispute to Finance.APescalation@jato.com
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