VOSPERS MOTOR HOUSE LIMITED
Company number: 00496634
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
7 July 2021
Approved by:
Paul Rogers
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 44%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
3 days
Longest standard payment period
Answer not provided
Standard payment terms
We have a wide range of supplier payment terms depending on the nature of the supply and the negotiated terms of each supplier agreement. Non-vehicle supplier payment terms are typically the end of the following month from date of invoice. New vehicle supplier payment terms are dictated by our manufacturers and vehicles can remain in stock depending on the manufacturer for up to 365 days before payment is due. Payment is taken automatically by direct debit usually within 3 to 5 working days after registration of the new vehicle.
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
365 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All invoices are processed by our centralised accounts department. The process involves getting managers to authorise their departments invoices for payment and in the event of any queries arising they will contact the supplier directly to try and resolve the query. If the manager cannot resolve the query it will be escalated to the accounts department and relevant departmental Director to resolve.
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