BELRON UK LIMITED
Company number: 00494648
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
29 January 2019
Approved by:
Taxiarchis Konstantopoulos
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 10%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 41%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
30 days net
Were there any changes to the standard payment terms in the reporting period?
Any changes made to standard payment terms were to ensure our terms met the terms of the suppliers. In most scenarios we reduced our terms to meet supplier expectation
Were suppliers notified or consulted about these changes before they were made?
after discussion with the supplier we would amend terms
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
DISPUTE RESOLUTION PROCESS Usually our buyers contact the suppliers to query incorrect charges or non-receipt of goods. For pricing queries our suppliers will investigate our disputes and raise credit notes where applicable, however usually the invoice is held until the credit has been received before releasing the payment. If the dispute is rejected the buyer will adjust the purchase order value to the higher amount or advise us of their approval, at which point the invoice is released for payment on our next available payment run. For non-receipt of goods, we usually request a Proof of Delivery, which when received and investigated usually leads to the order being receipted and the invoice released for payment. If Proof is not available we request a credit to be issued by the supplier.
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