REDBURN (EUROPE) LIMITED

Company number: 04710622

Reporting period:
1 April 2019 to 30 September 2019

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This report was filed on 24 October 2019

and approved by Charlie Bridge

Payment statistics

Average time taken to pay invoices: 10 days

Invoices paid:

• within 30 days: 98%
• in 31 to 60 days: 2%

Invoices due but not paid within agreed terms: 25%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

45 days

Standard payment terms

Our standard contractual payment terms for suppliers is 30 days but this may be varied for each supplier dependent on the nature of the business. Some suppliers’ invoices require settlement on receipt and practically this precludes settlement within terms.

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

None

Any other information about payment terms

None

Dispute resolution process

Disputes are dealt with on an invoice by invoice basis and should be submitted to the Company member of staff managing the contract.

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