INFINEUM UK LTD.
Company number: 03137282
Reporting period:
1 June 2024 to 30 June 2024
Report filed on:
30 July 2024
Approved by:
Michelle Pye and Xavier Leleux
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 60%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
20 days
Longest standard payment period
60 days
Standard payment terms
The most commonly used payment term is 30 days.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All invoices are processed by our outsourced service provider. If there is missing information on the invoice then service provider will contact the vendor directly to resolve the issue. Infineum reviews quantity and price discrepancy of vendors on a weekly basis and actions are taken to resolve any issues identified.
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.
Yes, this business has signed up to: 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.
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