ALTRO LIMITED
Company number: 00154159
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Edmond Boyle
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 50%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 76%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Under Altro's standard contractual terms for suppliers, payment is due 30 days from invoice date for valid invoices received. For those suppliers where early settlement discount is applicable, different payment terms apply. These vary from supplier to supplier and are defined by the individual contracts with them. The most common payment terms for suppliers for which settlement discount applied in the period was 14 days from invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
For standard contracts we will try to settle in the first instance with negotiations between the authorised representatives of each of the parties. During this time they should continue to perform their relevant obligations, whilst working together to resolve the dispute. Accounts payable contact information is provided on all emails and remittances sent from our accounts payable team. Invoices should be forwarded to apay@altro.com for processing. Where there is no formal contract in place, the above process will also apply. For this purpose the authorised representative will be the supplier's main contact with Altro Limited for these purchases (typically the person who ordered the goods or services and who has been named on the invoice).
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