LEXON (UK) LIMITED
Company number: 03076698
Reporting period:
1 May 2018 to 31 October 2018
Report filed on:
5 December 2018
Approved by:
Pritesh Sonpal
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 71%
- in 61 days or more: 5%
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
0 days
Longest standard payment period
95 days
Standard payment terms
We have various payment terms with suppliers as follows:
7D - 7 Days
14D - 14 Days
15D - 15 Days
20D - 20 Days
20DM - 20Days following the invoice month
30D - 30 Days
30DM - 30 Days following the invoice month
30DM+15 - 45 Days following the invoice month
30DM+6 - 36 Days following the invoice month
60D - 60 Days
60DM - 60 Days following the invoice month
65DM - 65 Days following the invoice month
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
95 days
There are 7 transactions that are part of our longest terms contract
Any other information about payment terms
The majority of our transactions come within our 30DM Terms (65%)
Dispute resolution process
Majority of disputes are owing to short deliveries or stock conditions. These are normally resolved by the purchase order process, through the buying team. Any other disputes are usually resolved by telephone and email correspondence via the accounts department
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