VAUXHALL FINANCE PLC
Company number: 00275607
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
17 January 2019
Approved by:
Denise Buckley
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 17%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 45 days and we ask all vendor to agree to these payment terms although this is not always possible and we sometimes need to agree shorter payment terms in order to accommodate the vendor.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In order to be able to resolve all queries as soon as possible we have a dispute log so that all members of the team are aware of the status of the query at all times. We also contact the vendor as soon as the query is known and advise them of the action required so that the issue can be resolved. We have also set up a dedicated mailbox so that the business can advise the AP team of any disputes.
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