Company number: 02182671
and approved by Robert Brewill
Average time taken to pay invoices: 41 days
Invoices paid:
Invoices due but not paid within agreed terms: 16%
30 days
Answer not provided
Standard payment terms are the supplier payment terms. Selco do not impose their own payment terms with suppliers. However, majority of stock suppliers are paid at the end of the month following the transaction. Other contracts will be payable immediately or within 7 days, in line with the suppliers standard terms. Also, there are a few suppliers with 90-day payment terms.
Answer not provided
N/A
90 days
No further comment provided
See above. Payment terms are set by the supplier.
For Goods for Resale invoices, disputes are raised with the supplier within 48 hours of receiving the goods. If a copy of Delivery Note is required, this will be requested from the supplier. If there is a dispute regarding quality, these will be raised with the supplier and will be dealt with on an individual basis. For suppliers that use the distribution Centre, our partner (Unipart) also raises discrepancies with the supplier. Payment continues to be made on invoices not in dispute, and only disputed invoices will be excluded from payment runs.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No