GOV.UK
EXOVA (UK) LIMITED
Company number: SC070429
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 2 January 2019
and approved by Will WInter
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 51%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 26 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
It is the Company’s policy to pay supplier invoices within the supplier terms and to abide by those terms based on the timely submission of satisfactory invoices. Supplier payment terms are agreed individually with each supplier either prior to or upon commencement of a service or the delivery of goods. The most common payment terms agreed during the period were 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
71 days
Any other information about payment terms
The company operates weekly payment runs, the analysis provided is based on the company’s policy to pay invoices in the payment run on or following the due date
Dispute resolution process
Disputes should be resolved to adhere to payment terms. All our suppliers have clear contact details for our Accounts Payable team, so if they have any disputes or complaints they can contact the company by either email or phone. The accounts payable team will reach out to the invoice contact if not clear from the system why the invoice has not been approved for payment.
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