Company number: 02245657
and approved by PAOLO BARBONCHIELLI
Average time taken to pay invoices: 29 days
Invoices paid:
Invoices due but not paid within agreed terms: 57%
2 days
120 days
Payment terms are agreed with each supplier individually and can vary depending on the nature of the goods or services provided. Payment runs for each currency are made at the beginning and middle of each month. For the majority of cases invoices are paid on the first available payment run after their due date.
Answer not provided
N/A
120 days
Longer payment terms are typically agreed only with suppliers of high value items such as capital equipment purchases.
The statistics show a high proportion of invoices not paid within the agreed terms. This is a function of our bi-monthly payment runs and the majority of invoices are paid within in a few days of their due date.
Suppliers are asked to contact the Accounts Payable team with any queries or disputes. Any queries that cannot be resolved by the team are forwarded to Purchase Office for further investigation and resolution. An escalation process exists where any unresolved queries are escalated to department managers/senior management.
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