STAPLETON'S (TYRE SERVICES) LIMITED

Company number: 00332098

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 22 October 2018

and approved by Mark Lynott

Payment statistics

Average time taken to pay invoices: 152 days

Invoices paid:

within 30 days: 23%
in 31 to 60 days: 25%
in 61 days or more: 52%

Invoices due but not paid within agreed terms: 69%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

180 days

Standard payment terms

Our most frequently used payment terms are 30 days from document date. For goods for resale, terms can be longer.

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

180 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The Company aims to process all supplier payments efficiently and within the timescales agreed within the particular contracts. To facilitate prompt payment, suppliers are required to comply with the Company's invoicing process. Queries- In the first instance, suppliers should contact the Company Accounts Payable department. If Accounts Payable is unable to resolve the dispute within seven working days, the dispute may be escalated to the Group Financial Controller. If the Group Financial Controller is unable to resolve the dispute within a further seven working days, the dispute may be escalated to the Chief Financial Officer.

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?