CZARNIKOW GROUP LIMITED
Company number: 02650590
Reporting period:
1 July 2021 to
31 December 2021
This report was filed on 27 January 2022
and approved by Julian Randles
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 10%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 6%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
We have no standard payment terms due to the nature of our business offering tailored solutions to a wide range of international clients. Cash against documents is one of our more common terms, however there is no obvious most frequently used contractual terms. Other payment terms apply for overhead payments and are generally dictated by the supplier (generally 7 to 14 days).
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
180 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
All trade related contracts are fully detailed in written agreements. All trading counterparties would have a designated contact within the business who would engage with counterparty where a dispute arises. All avenues would be investigated to amicably resolve any dispute before going to arbitration or the courts to resolve. Any dispute would be reviewed urgently by all departments impacted. Any overhead supplier dispute would be dealt with by the Head of Corporate Accounting who would engage with appropriate contacts at the counterparty to resolve, with escalation to the CFO as required. Any issue would be aimed to be addressed within a week, and regular dialogue to be maintained during any resolution process.
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.
Yes
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