STAX TRADE CENTRES LIMITED

Company number: 02235950

Reporting period:
2 March 2019 to 31 August 2019

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

This report was filed on 30 September 2019

and approved by Taylor Boyd

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

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

Invoices due but not paid within agreed terms: 82%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

The standard payment terms are 60 days.

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

252 days

The maximum contractual payment period was for a preseason agreement.

Any other information about payment terms

For the current period 82% of invoices were not paid within the agreed terms but most of these invoices were less than 7 days overdue. The reason for this is that we operate a single payment run per week which suppliers are aware of and does not cause any issues.

Dispute resolution process

Queries are dealt with by the Purchase Ledger department on a daily basis.

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.

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?