DEVRO LIMITED
Company number: SC129785
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
3 February 2025
Approved by:
Dan Lunoe
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 25%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
It is the company's policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of correctly rendered invoices. The Company aims to agree to settle trade payables on 90 day 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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. In the event of a dispute this is managed by the business with their contact at the supplier. Accounts Payable have visibility of all aged open items and will request updates for any aged open item under dispute. Where required items will be escalated to the Financial Controller - Global Business Services.
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