Company number: 02189907
and approved by Nicholas David Coton
Average time taken to pay invoices: 86 days
Invoices paid:
Invoices due but not paid within agreed terms: 5%
0 days
120 days
The company has differing standard payment periods depending on the classification of the product or service acquired. Vendors for stock items are generally 60 or 90 days, end of month. The period for fixed asset suppliers are generally 60 days, end of month. Historically other vendors were generally paid 30 days, end of month however the business is moving towards new standard terms of 60 days.
Due to a change in computer system the company was given extended payment terms for all intercompany company invoices from 60 days to 120 days.
Group companies extended payment terms whilst change to new system.
120 days
No further comment provided
N/A
Responsibility for resolution of disputes and complaints is jointly held by our accounts payable and procurement teams as appropriate. The aim is to work closely with suppliers to negotiate appropriate resolution in advance of the payment due dates, where possible.
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