ARGO NAUTICAL LIMITED
Company number: 00829659
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
3 January 2025
Approved by:
Andrew Stone
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 24%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are the end of the month following the month in which the invoice is dated. Additionally, specific payment terms are dictated to us by the manufacturer partners for which we operate franchises. The shortest such term is immediate payment.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
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
N/A
Dispute resolution process
All issues are escalated by the accounts department to the operational management team on a case by case basis and, if necessary, further escalated to senior management. Disputes are rare and the company aims to resolve any dispute which may arise in a timely manner.
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.
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