Company number: 00856633
and approved by Graham Maxa
Average time taken to pay invoices: 44 days
Invoices paid:
Invoices due but not paid within agreed terms: 56%
0 days
Answer not provided
Princess Yachts standard payment terms are 60 days, however terms may vary in accordance with individual supplier support requirements.
Answer not provided
N/A
90 days
No further comment provided
For efficient administration purposes, Princess Yachts make weekly supplier payment cycles, paying invoices due up to the Friday of that week. For illustration purposes, if the weeks invoices due dates were all amended to the Friday, this would have the effect of reducing the percentage paid outside of terms from 56% to 24%. Of the 24% of invoices paid outside of terms, on average in excess of 50% relate to supplier pricing queries and invoices awaiting supplier credit.
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.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No