CINCH CARS LIMITED
Company number: 11520330
Reporting period:
1 October 2024 to 30 March 2025
Report filed on:
29 April 2025
Approved by:
James Mullins
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 2%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
30 days
Standard payment terms
5 Days - Vehicles purchased via self-billing (from 3P dealers) 30 Days - Most external suppliers, however some suppliers are on shorter payment terms. Shorter payment terms tend to be for recruiters/contractors and marketing.
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
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
In the case of a dispute of over charges, when the invoice is sent for approval in the business, the invoice is not approved and the individual responsible will raise the issue with the supplier with a view to either approve the invoice if the costs are in fact valid, receive a credit note or escalate the issue where necessary.
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