PRINCESS YACHTS LIMITED

Company number: 00856633

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 29 July 2019

and approved by G Maxa

Payment statistics

Average time taken to pay invoices: 60 days

Invoices paid:

• within 30 days: 17%
• in 31 to 60 days: 31%
• in 61 days or more: 52%

Invoices due but not paid within agreed terms: 88%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

Answer not provided

Standard payment terms

Princess Yachts standard payment terms are 60 days, however terms may vary in accordance with individual supplier support requirements.

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

For efficient administration purposes, Princess Yachts make weekly supplier payment cycles, paying invoices due up to the Friday of that week.

Dispute resolution process

Payment disputes are reported to the Purchasing Department. The Purchasing Department will work with the Supplier to resolve the dispute. Ultimately the dispute can be further escalated to the Purchasing Director.

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