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PZ CUSSONS (INTERNATIONAL) LIMITED

Company number: 00706511

Reporting period:
1 June 2018 to 1 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 20 December 2018

and approved by Andrew Bowie

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 51%
• in 31 to 60 days: 27%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 49 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms are 30 days end of month, which potentially results in 45 days.
We are looking to move to 60 days end of month.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

75 days

Maximum payment terms are 60 days end of month, which potentially results in 75 days. We are looking to make this our standard payment term

Any other information about payment terms

N/A

Dispute resolution process

The point of contact for disputes is the PZ Cussons Accounts Payable Department within the Shared Service Centre in Manchester, UK. When an invoice is disputed, the supplier will receive an email indicating the invoice number and reason for rejection. To resolve a dispute the supplier is required to provide and missing information or a corrected invoice. We operate a no PO no pay policy.

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

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