Published reports

CABOT FINANCIAL (EUROPE) LIMITED

Company number: 03439445

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2022 to 31 December 2022

Report filed on:

25 January 2023

Approved by:

Jon Graham

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

within 30 days: 94%
in 31 to 60 days: 4%
in 61 days or more: 2%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 14%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

45 days

Standard payment terms

All invoices to include a valid purchase order number will be paid 30 days from date of invoice/receipt of invoice, whichever is later unless contractually agreed.

Were there any changes to the standard payment terms in the reporting period?

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

45 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Invoices received without a Purchase Order number are rejected by Accounts Payable and returned to supplier without payment. The supplier is asked to liaise with who engaged them to obtain a PO number, which is then quoted on the invoice and forwarded to Accounts Payable for payment.

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.

Yes

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.

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?